By Sally Underwood • Published: 05 Aug 2021 • 18:37
Economy in Andalucia grows 18.2%. Image: Junta de Andalucia
According to the Regional Ministry of Economic Transformation, Industry, Knowledge and Universities, the economy of Andalucia has grown by 18.2 per cent. The figures found that the regional Gross Domestic Product (GDP),had increased by 18.2 per cent from the year before. The advance of the GDP is one of the main indicators that shows the economic recovery of Andalucia. According to data from the Ministry, the increase in business and the labour market show positive growth in relation to the rest of the Spanish regions. Andalucia also recorded the highest growth rate of population of all the autonomous communities, of 8.8 per cent, compare to the 5.6 per cent Spanish average. The number of people employed in Andalucia also increased by 8.4 per cent. Andalucia’s exports have grown in the last year to reach 11.1 per cent of all of Spain’s exports, making it the third biggest community for exports. The news comes after the IMF said that out of all the major European countries, Spain will have the highest growing economy in Europe in 2021 and 2022 The International Monetary Fund (IMF) has lowered its growth forecast for Spain this year by two tenths, now standing at 6.2 per cent, although it is much more optimistic for 2022, and calculates an increase in Spanish GDP of 5.8 per cent for that year, 1.1 points higher than that it had estimated back in April, as revealed publicly in its review today, Tuesday, July 27, of the world economic perspectives, in which it doesn’t modify its global forecast of 6 per cent for 2021. According its review, the IMF predicts that of all the major economies in the eurozone, Spain will continue to be the fastest-growing both this year and next, placing it alongside the likes of Japan, Italy, France, and Germany, pointing out that in these cases, a stronger recovery is anticipated in the second half of the year, thanks to vaccinations and the economic reopening.
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