Among the factors that could most damage the Basque economy are energy prices and labor costs.
42% of economists in the Basque Autonomous Community believe this is the case Euskadi’s economy will deteriorate in 2024, while 33% believe this will remain the same.
On the other hand, 76% believe that generative AI will generally benefit their work and the economic environment, but 44% think this will lead to “job losses”, according to the results of the Ekonometer 2023, presented by the Association of Economists of Euskadi.
This study, which will now take place annually and which was presented on Thursday in Bilbao, has been prepared with the participation of 10% of the members.
The Ekonometro is an indicator of the socio-economic confidence of economists, in which economists from the three historical areas of the Basque Autonomous Community participated and on this occasion also asked about the threats and opportunities of the impact of artificial intelligence. (generative AI) in the profession of economists.
Among the factors that could most damage the Basque economy, they have pointed to the price of energy all the work costs.
In terms of employment, 36.2% predict that unemployment will rise in 2024 and 37% think it will remain the same.
In the appearance, in which economists Noemi Peña and Iñaki Fernández de Gamboa participated, they explained that the instability generated by the situation geopolitics has caused some of the economic growth expected for 2023 to slow down, but economists’ perception of their personal economic situation is still slightly more positive than in 2022.
Specifically, about 76% of respondents believe their personal economic situation is the same or better than a year ago, while 24% believe it has worsened.
In terms of future prospects, about 80% believe that the situation in their personal economy will remain the same or improve in 2024.
Regarding the economic situation in Euskadi, 25% think it will remain the same in 2023, while 44% think it has worsened and 29% think the economic situation has improved. Economists are therefore somewhat pessimistic about the overall situation of the past year.
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.
