Spain | Catalonia Economic Outlook. First half of 2020

Summary

The GDP of Catalonia could fall 12% in 2020 and grow 7.4% in 2021, which would lead to the destruction of 110,000 jobs. The impact of COVID-19 was significant and heterogeneous, as is the recovery. Public policies reduce the destruction of employment. But the risks remain on the downside.

Key points

• Key points:
• At the end of 2021, the GDP of Catalonia could be 5% below the 2019 level
• The most touristic areas with the highest level of social consumption are the most affected by the COVID-19 crisis
• A broad consensus is required to take the necessary public recovery measures
• Control of the pandemic is the main uncertainty

Geographies

Topics

Tags