Galicia’s gross domestic product (GDP) will grow 3.2% in the third quarter of 2024 at an interannual rate, two tenths less than the average of 3.4% in Spain, according to the estimate of the Independent Authority for Fiscal Responsibility (Airef).
The entity predicts that the Canary Islands, Balearic Islands, Castile and León, Catalonia, Aragon, Navarra, La Rioja, Madrid and the Valencian Community will be the regions that will experience the highest growth in terms of interannual rates. above the state average of 3.4%.
Concretely, the economic organization grants The Canary Islands have the highest GDP growthfollowed by the Balearic Islands, with increases of 4.3% and 4.1% respectively. Next come Castile and León, with 3.7%, and Catalonia and Aragon, with 3.5%.
And in balance with the average, with 3.4%, Airef predicts that Navarra, La Rioja, Madrid and the Valencian Community will be located. They would already be below the Basque Country (3.3%); Galicia and Murcia (3.2%); Asturias (3.1%); Cantabria (3%); Castile-La Mancha, Andalusia and Extremadura (2.9%).
Regarding the quarterly variation rates, The Galician community is one of the five autonomy with the lowest growth, with only 0.7%, like Murcia, Castile-La Mancha and Andalusia. All below the Spanish average of 0.8%.
Uncertainty
The Balearic Islands are the community with the highest growth, 1.1%, followed by the Valencian Community, with 1%. Above average, there are also Cantabria, Asturias and Madridwith 0.9%. These AIReF estimates are made once the INE publishes preliminary quarterly Spanish GDP data. The organization recalls, however, that the forecasts are made in a context of high uncertainty at the territorial level.
