For 2022, it expects an increase of 6.7%, compared to the 6.4% previously calculated. In terms of employment, the revision hardly brings any changes compared to those of September. The number of people who, according to the new scenario, will find employment will be 13,390 in 2021 and almost 11,500 in 2022.
The Basque Government has lowered the growth forecast of the Gross Domestic Product (GDP) of the Basque Autonomous Community (BAC) for this year from 6.7% estimated in September to 5.6%, while for 2022 it foresees an increase of 6.7%, compared to the 6.4% previously calculated.
This has been announced by the Minister of Economy and Finance, Pedro Azpiazu, during his speech in the plenary session of the Basque Parliament that debates this Tuesday the amendments to the totality presented by Elkarrekin Podemos-IU, PP + Cs and Vox to the budget bill by 2022.
As for the new economic forecasts, in terms of employment, the review hardly brings any changes compared to those of September. The number of people who, according to the new scenario, will find employment will be 13,390 in 2021 and almost 11,500 in 2022.
The favorable evolution of employment will be reflected in the unemployment rate, which will be located in the 10% this year in annual average, when a rate of 10.3% was initially estimated, and will drop to 9.2% in 2022, compared to 9.5% calculated in September.
This revision of the macroeconomic picture has been carried out after the growth estimated by the Eustat for the third quarter of 2021 has been lower than expected going from 5.5% calculated to 3.9%.
The lowering of the forecasts does not suppose, he said, a “weakness” of the productive fabricRather, part of the GDP that will not be able to be generated this year will be transferred to growth in 2022.
It is also reviewed downward growth of industrial added value this year, from 9.7% to 8.7%, but next year’s rate rises from 5.6% to 6.6%. In the case of construction, the result for 2021 was moderated from 4.2% to 2.7% and that of 2022 increased from 4.5% to 5.2%.
In the case of services, it moderated by almost one point this year and remained practically unchanged next year, with 6.7%.
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