Spain | Andalusia Economic Outlook. First half 2021

Summary

Andalusia's GDP may have fallen by 11.0% in 2020 and is expected to increase by 5.4% in 2021 and 7.0% in 2022. Consumption, investment and exports will boost the economy throughout 2021. With risks, the momentum of European funds will be more noticeable towards 2022.

Key points

• Key points:
• Greater drop in Andalusia's GDP in 2020, due to the importance of social consumption and a greater impact on the labor market and exports.
• Employment has not yet recovered the pre-crisis level. There is a greater impact on the Costa del Sol, due to the greater dependence on tourism.
• With the boost from consumption, investment and tourism, 177,000 jobs could be created between 2020 and 2022.
• The risks are the pandemic, addressing the necessary reforms and the distribution of funds NGEU.

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