The recovery of the Valencian economy has increased in intensity in recent months, so that it will grow well above its potential, and will recover its pre-pandemic GDP level by the end of 2022.
GDP in Castile and Leon could increase by 5.9% in 2021, and by 6.1% in 2022. This would result in the creation of some 25,000 jobs compared to 2020. There is a downward bias on these forecasts if Spain's slower economic recovery is confirmed.
The GDP of Navarre could increase by 5.9% in 2021, and by 7.3% in 2022 (Spain: 6.5% and 7.0%). This would result in the creation of 11,000 jobs compared to the end of 2020, and a reduction in the unemployment rate by three tenths of a percentage point to 9.8% on average over the following year.