Spain | La Rioja Economic Outlook 2020

Summary

The economy of La Rioja may shrink by 10.2% this year, and grow 6.6% in 2021, losing 3,000 jobs. The impact of the crisis was heterogeneous during the first semester, as it is the recovery. Public policies allow to lower job losses, but risks push the perspectives downward.

Key points

• Key points:
• By the end of 2021, the GDP of La Rioja could be 3.5% below the closing level of 2019
• The lower relevance of social consumption allows family spending to be somewhat less affected than in the whole of Spain
• Heterogeneous impact by region, sector and personal characteristics
• A broad consensus is required to take the necessary public recovery measures
• Control of the pandemic is the main uncertainty. Additional risks for the wine sector

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