Spain | La Rioja Economic Outlook 2021

Summary

The economy of La Rioja may have shrunk by 10.2% in 2020, and may grow 5.1% in 2021 and 6.5% in 2022. Public policies and the lower weight of social consumption softened the impact of COVID-19. Consumption and investment will start to push the economy, with risks. European funds shall boost growth especially through 2022.

Key points

• Key points:
• Lower GDP loss in La Rioja in 2020, due to the lower relevance of social consumption, and higher of esseential sectors.
• Employment in Middle Rioja is already above its pre-pandemia level, while Lower Rioja is the most affected county by the crisis.
• The push of consumption, investment and eventually, exports may help create 5,000 jobs in average between 2020 and 2022.
• The risk arise from the pandemic, tackling necessary reforms and NGEU funds' distribution.

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