In addition, according to the entity’s economic forecasts, it is currently “in growth”, although “it has slowed down”, and it is difficult for the Basque Country to enter a recession.
Euskaraz irakurri: Euskadi % 3.6 haziko da aurten, eta % 2.7, datosrren urtean, Laboral Kutxaren arabera
Laboral Kutxa has lowered its economic forecasts and expects the Basque Country to grow by 3.6% in 2022 and 2.7% in 2023, according to estimates from the latest report on the economy presented by the entity on Thursday.
In a press conference, Joseba Madariaga, director of the Laboral Kutxa Studies Department, pointed out that it is “difficult” for the Basque Country or Spain to fall into recession unless “a stress scenario” occurs, which he is not doing at the moment. to provide.
Madariaga, who believes that prices will continue to rise this year, although the rate could “succumb” by the end of the year, has stated that two “substantial” economic events must come together to enter a recession. In that sense, he pointed out that a possible interruption of gas supply by Russia would be a “major blow to the European economy”, which “could lead to a recession”.
The author of the study has therefore ensured that “the uncertainty is very high”, so the figures “should be regarded as estimates subject to great variability” and according to his predictions, the Basque GDP will increase by 3.6% in 2022 and grow by 2.7% in 2023. In addition, it forecasts employment growth of 1% this year and 0.7% next year in the Basque Country.
In any case, Madariaga stressed that it is currently “growing”, although “it has slowed down” and “despite such an unexciting environment”, he has emphasized “the transformative drive” that the Next Generation Funds “should assume for the economy” as “they provide an excellent opportunity to generate a productive fabric that allows the modernization of the country’s economic structure”.
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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.
