The slowdown of the Spanish economy could end in 2020. GDP growth will slow down to 1.6% in 2020, from 1.9% in 2019, and show a moderate acceleration in 2021 to 1.9% due to the slight improvement expected in the European economy
In the first six months of 2019 the net profit for the Spanish banking system has been EUR 5,326 M , 20% less than in the one obtained in the first semester of 2018, due to a weak second quarter. The key factors were weak revenues, cost control, and provisions which remain at minimum levels.
The economy of Navarre grew by 3.0% in 2018 and will advance by 2.0% in 2019 and 1.8% in 2020. Some 11,000 jobs will be created in the biennium, although the risks are numerous and some of them are more likely now. In 2020 the level of employment will be 0.5 percentage points below of the pre-crisis level