Over the last decade, Spain has shown signs of a divergence in its GDP per capita with respect to the European Union. In these circumstances, it is not surprising that the Recovery, Transformation and Resilience Plan (PRTR) and European funds have generated expectations of a reversal of this trend.
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In 1Q23, Spain recovered the GDP level of 4Q19, just before the COVID-19 crisis. The reasons for taking longer to do so than most European Union (EU27) countries are several, but an important one in terms of its implications is the slow recovery in investment.
Retaking the path of convergence toward the most advanced economies will require a great deal of success in the investment of the European NGEU funds and in the reforms, and also time, with results that will be measurable in the medium and long…
The country's fixed capital accumulation is 5% below pre-pandemic levels, but the aggregate masks higher lags in some components.
In 2022, GDP growth in the Basque Country would have reached 4.4%. The recovery is expected to continue in 2023 and 2024, with advances of 1.3% and 2.9%, respectively. GDP and GDP per capita could return to the pre-pandemic level this year.
BBVA Research forecasts that Andalusia's GDP will grow by 1.3% in 2023 and recover pre-Pandemic levels. By 2024, the increase in activity will accelerate to 2.4%, and during that year it is expected to be able to recover GDP per capita.
Economic progress and welfare depend in the long run on innovation, productivity, and employment. The digital revolution and the energy transition are an opportunity for Spanish society, but also a considerable challenge.
Aragon's GDP is expected to grow by 3,3% in 2022, although the current economic slowdown will continue in the coming quarters. Regional GDP is expected to grow by 0,6% in 2023, due to the fall in European demand, higher energy and transport pri…
Artificial Intelligence (AI) has positioned itself as a key element for development. That is why the NGEU has endowed Spain with 500 million euros. This study characterizes the use of AI in Spanish companies, analyzing the involvement of their …
BBVA Research expects GDP growth to reach 1.0% in 2023, down from 4.4% in 2022, which would push back the prospect of returning to pre-pandemic levels at least until the end of the year.
AI is a set of techniques to perform activities which have required human intelligence until now. Despite being in its infancy, it’s proving to be of great interest to researchers, companies and governments around the world. We explore its current main uses, barriers and overall degree of adoption by Spanish companies.
The Recovery Plan failed to fullfil expectations in 2021. As we look forward, we must focus on streamlining and accelerating its roll-out and on using it to transform our economy and invest wisely in projects with strong potential to increase employment and improve job quality and productivity.