The Independent Authority for Budgetary Responsibility (AIReF) announced on Wednesday that it approves the macroeconomic forecasts which will accompany the draft general budget of the Community for 2025 and which include a forecast of economic growth of two percent for next year .
Specifically, the Council’s macroeconomic scenario for 2025 also includes the estimate of a baseline public deficit of 0.1 percent and an unemployment rate of 9.4 percent.
According to the AIReF report collected by Europa Press, Castilla y León presents GDP growth estimates “different from the latest estimates of the government’s macroeconomic scenario for the whole country”, however, Two percent forecast is “identical” to AIReF and “is within the range of predictions made by other organizations.”
Thus, the Independent Authority noted that the macroeconomic forecasts for the autonomous communities are made in a context of “high uncertainty”.
“To the risks coming from the geopolitical environment, in the case of the autonomous communities, is added another source of fundamental uncertainty linked to lack of essential information for the development of the macroeconomic scenarios of these administrations”, declared the AIRef, which highlights the absence of the latest available figures from the Regional Accounting of Spain, since only those referring to the year 2022, published in December, are known for the moment 2023.
Finally, the Independent Authority does not include new recommendations for Castilla y León in this report and emphasizes that the Community Government “complies with the recommendation to send, before the publication of the draft budget, information on the macroeconomic forecasts that support it and the corresponding request for approval”.
However, AIReF reiterated to Castilla y León its request that the documentation provided “contain more detailed information on the assumptions, models and parameters used in its macroeconomic forecasts and projections.”
