Catalonia's GDP declined by 11.2% in 2020, and is expected to increase by 6.6% in 2021 and 7.2% in 2022. Consumption, investment, exports and tourism will drive the economy through 2021. The boost from EU funds will be most noticeable around 2022.
Spain’s GDP growth estimate for 2021 is revised upwards up to 6.5%. Moving forward, the stronger progress of global activity, accumulated excess savings, the end of health restrictions and accommodative monetary and fiscal policies will boost GDP up to 7.0% in 2022.
The economy of La Rioja may have shrunk by 10.2% in 2020, and may grow 5.1% in 2021 and 6.5% in 2022. Public policies and the lower weight of social consumption softened the impact of COVID-19. Consumption and investment will start to push the economy, with risks. European funds shall boost growth especially through 2022.