Vice President and Minister of Economy Mikel Torres confirms that these data “exceed the expectations of the eurozone” and stresses the importance of European funds in the development of economic and employment policies.
Vice Lehendakari and Minister of Economy, Labor and Employment, Mikel Torres, have indicated that the Basque government is economic growth in Araba, Bizkaia and Gipuzkoa of 1.9% this year and 2.1% in 2025 and stressed that these data “far exceed expectations for the euro area as a whole.”
Mikel Torres presented the results of the report of the Economic Report of the Basque Economic and Social Council (CES), in the context of the summer courses of the University of the Basque Country (UPV/EHU), and pointed out that in order to achieve the economic growth objectives “it will be essential for the Basque economy to maintain the current growth rate, which is around 1.8%.”
The Basque Government’s forecasts estimate that this pace “will be maintained and even accelerated in the last period of this year and next year, as the control of inflation and the fall in interest rates will ease the cost pressures that Basque companies and households are suffering from.”
European funds
The Minister of Economic Affairs wanted to emphasize this the relevance what do they mean the funds of the European Recovery and Resilience Facility for the development of economic policy and employment. “European funds have had a positive impact on the activity levels and macroeconomic data presented in this report, especially when compared to the European average. Without a doubt, the stimulation of the funds is an important element in this recovery,” he assured.
In the first half of 2024 2.5 billion euros of these funds to the CAVhalf of which is under regional management, and of the latter, 75% has already been allocated to ongoing or completed projects.
Finally, Torres stressed the importance of the participation of the various social actors in the preparation of the Socio-Economic Report. He also recalled that economic policies “must generate growth, but also social cohesion, guarantee a fair distribution of wealth and reduce social inequalities.”
Source: EITB
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