According to Laboral Kutxa’s forecast, inflation in the Basque Country and in the Foral community will increase by around 4%, while unemployment could show a slight upward correction. However, they are predictions made in an environment “of great uncertainty,” the entity points out.
Euskaraz irakurri: EAEko BPGa % 1.3 haziko da 2023an, et Nafarroakoa % 1.2, Laboral Kutxaren aurreikuspenaren arabera
The Gross Domestic Product (GDP) of the Basque Autonomous Community (CAV) will grow by 1.3% in 2023while that of Navarre will grow 1.2%according to Economic Forecast of Laboral Kutxa. This Thursday, the entity presented its 2023 forecast report for the Basque economy, and, as detailed by Joseba Madariaga, the director of the Laboral Kutxa Studies Department, the estimate for the inflation is that it is experiencing growth of about 4% in Hego Euskal Herria, while the unemployment could include “a slight upward correction”. Madariaga pointed out that the predictions were made in an environment “of great uncertainty” given the possibility of changes in the coming months.
For the Spanish state as a whole, Laboral Kutxa forecasts that the economy will grow by 0.8% in 2023. The estimate of GDP growth for the end of 2022 rises to 4.2% in the Basque Country and 4.1% in Navarre, and to 5.3% in Spain. The report presents, with respect to the forecasts presented in the previous study, published a few months ago, a “significant upward” correction in terms of the forecast for 2022, and on the contrary “significant downward” in terms of the calculation for 2023. Madariaga has credited the duration of the war in Ukraine and its energy implications as among the causes of these corrections.
In addition, Laboral Kutxa points out in its report that the economy in the Eurozone is down by a tenth, partly due to the expected fall of 0.7% in Germany and 0.1% in Italy, which determine the European economy, as the small growth expected for France, of one-tenth.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
