Universities predict that the Valencian economy will outpace Spain

Still though A High inflationValidity of international conflicts such as Ukraine and Israel and the Red Sea crisisThe economy of the Valencian Community will end in 2024 2.3% growth, two-tenths higher than the national average. To assess Hispalink Network in its latest report -composed of research groups from fifteen Spanish universities, including the University of Valencia (UV)-, has the autonomy as one of the regions with the highest growth in its gross domestic product (GDP) this year. Only ahead of Madrid (2.4%), the Balearic Islands (2.6%) and the Canary Islands, whose growth rose to 3.4%.. All of this lives within the context of the “Bali crisis” in a structure that the organization defines as “complex.”

It is this hard reality, which will continue to be experienced in the coming months, that makes the recently completed Valencian and National Economic Forecast for 2023 more than 2024. Not in vain, the growth estimated by researchers in autonomy last year was 2.5. % Still, “volatility in financial markets is contained,” according to the report, “currently reducing the risk of a global recession.” Because of that future stability, By 2025, the document forecasts that Valencian GDP will increase by 2.6%, the same percentage as the Spanish average.

Construction drives growth

Regarding this exercise, The growth of the Valencian economy derives particularly from the construction sector, whose rise forecast is 5.7% – compared to an estimated 6.2% in 2025 -, the second highest value in Spain after Cantabria (9.2%). Despite the difficult situation in the housing market, where prices have risen significantly in recent months, Hispalink predicts that this activity will be promoted in the Valencian community. Almost a point and a half higher than the average in Spain (4.3%).

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A man builds a building in Valencia, in a file photo.

It is not a prediction repeated with the same force in other fields. And that's it Agriculture, a light weight in Valencian GDP, will improve by 2.8% in 2024 – compared to the 1.7% the country averages.Dept Services As advanced in Valencian territory as in Spain, A 2,3 %, meanwhile, will be the industry most affected, as university researchers predict it will grow only 0.9% this year – compared to Spain's average of 0.8%. yes indeed, Looking to 2025, industry is expected to see a 2.5% improvement in autonomy. Three-tenths more than the national average.

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