The Balearic Islands, Canary Islands and Madrid will be the three autonomous communities in Spain with the highest GDP growth in 2023, according to the latest forecasts prepared by Funcas and BBVA Research. In contrast, both economic panels agree in placing Asturias and Murcia as two regions with lower growth this year.
This is what emerges from these forecasts by Funcas and BBVA Research, which were presented in March, and which coincide in highlighting the archipelagos and the Community of Madrid as the three regions that will lead economic growth in 2023.
Thus, the Balearic Islands will have a GDP growth of 3.3% this year, according to both economic panels, while BBVA Research puts growth in the Canary Islands at 2.8% and Funcas at 2.2%.
In the case of the Community of Madrid, BBVA Research forecasts economic growth of 2% and Funcas puts it at 1.4%.
In this sense, Funcas aligns the growth of the Community of Madrid with that of Catalonia, the Basque Country and Navarre, all 1.4%, just one tenth of a percentage point higher than the national average, which this panel places at 1.3%.
Behind the Balearic Islands, Canary Islands and Madrid, BBVA Research places Extremadura (1.9%); Catalonia (1.8%); Aragon (1.7%); Navarra and La Rioja (1.6%); Cantabria (1.5%); Castilla y León and Valencia (1.4%); Andalusia and the Basque Country (1.3%); Castilla-La Mancha (1.2%); Galicia (1.1%); Asturias and Murcia (1%).
