Spain | Castile and Leon Economic Outlook 2020

Summary

Castile and Leon's GDP could fall by 10.6% in 2020 and grow by 6.0% in 2021. 27,500 jobs could be destroyed. The impact of the crisis was heterogeneous in the first half of the year, as is the recovery. Public policies make it possible to reduce job destruction. But the risks are still present

Key points

• Key points:
• By the end of 2021, the GDP of Castile and Leon could be 3.5% below the level at the end of 2019
• The lower relevance of social consumption allows household spending to be somewhat less affected than in the whole of Spain
• A broad consensus is required to take the necessary public recovery measures
• Control of the pandemic is the main uncertainty

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