The Basque employers’ association predicts a year “of growth, although not without its uncertainties.” He estimates that the pre-pandemic GDP level will recover next year. In the same way, they foresee a decrease in the unemployment rate to 8%, a rate lower than the one that existed before the pandemic.
Confebask believes that “the worst of the crisis is behind us” and foresees for 2022 a growth of the Basque economy of 5.9% and the possibility of a “historical maximum of employment”, with an estimate of 25,000 new jobs , which would reduce the unemployment rate to around 8%.
These estimates have been made during a press conference in Bilbao by the president of Confebask, Eduardo Zubiaurre, its general director, Eduardo Aretxaga and its head of economy Pablo Martín, who have released the Economic Situation report prepared by the Basque employers.
In his appearance, Eduardo Zubiaurre pointed out that the Basque economy will close 2021 with a growth of 5.7%, higher than that of the Spanish and European economies, but “in the lower band than expected a year ago.”
The forecast for 2022 improves and estimates a 5.9% growth, “enough already to rrecover the pre-pandemic GDP level. However, Eduardo Zubiaurre has warned of high uncertainty and the existence of “risk factors” such as the pandemic, energy and business costs, inflation or global shortages, which could affect this forecast in one way or another. in such a way that the growth of the Basque economy could finally move in a range between 4% and 7%.
In terms of employment, the Basque employers’ association foresees that 2022 will be a positive year and that the unemployment rate down in Euskadi until 8 %, a level lower than before the pandemic, and it is estimated that there will be some 25,000 new members to Social Security. If this forecast is fulfilled, it would be a new historical maximum of employment in the Basque Autonomous Community with more than one million contributors.
Zubiaurre, who has highlighted that Basque companies anticipate a maintenance of the recovery next year “, has affirmed, therefore, that “2022 will be a new year of growth, although not without uncertainties and with important challenges ahead “.
In this sense, he has indicated that the appeal to a “serene and balanced social dialogue” takes on “today a greater role than ever” and has defended to seek pacts in the company, “based on the balance between those who see how the basket of the purchase becomes more expensive month by month, and those who, in addition to suffering that shortage in the first person, also seek to ensure the future of the company “.
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