Spain | Aragon Economic Outlook 2021

Summary

The economy of Aragon may have shrunk by 9.7% in 2020, and might grow 5.6% in 2021 and 6.4 in 2022. Public policies softened the impact of COVID-19. Consumption and investment will push the economy through 2021. With risks, the situation should be getting back to normal by 2022.

Key points

• Key points:
• By the end of 2022, Aragon's GDP could be above the level of 2019 by 1.4%
• The lesser relevance of social consumption and less dependence on foreign tourism contribute to a lower contraction in 2020
• Heterogeneous impact by region, sector and personal characteristics
• With the boost of consumption and investment, 18,000 jobs could be created between 2019 and 2022
• The risks are the pandemic, addressing necessary reforms and the distribution of NGEU funds.

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