Spain | Murcia Economic Outlook 2021

Summary

The economy of the Region of Murcia may have shrunk by 9.7% in 2020, and might grow 5.5% in 2021 and 6.5% in 2022. Public policies and the lower weight of social consumption softened the impact of COVID-19. Consumption, investment and exports will push the economy through 2021 and, sith risks, NGEU funds through 2022.

Key points

• Key points:
• Lower GDP loss in Murcia in 2020, due to the lower weight of social consumption and higher of the so called essential sectors.
• After a higher impact on employment in the Costa Cálida Coast, it is now recovering, while the great urban area of Murcia leads employment gains.
• With the push on consumption, investment and tourism, 36,000 jobs could be created between 2019 and 2022.
• The risks come from the pandemic, avoiding much needed reforms and NGEU funds' distribution.

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