The Balearic economy has left the ICU and has already entered the recovery phase. The importance of this diagnosis is that it comes from both the Govern and the entrepreneurs of the islands. The first figure achieved during the second quarter of the year showed 21.7% growth over the same period in 2020, while the employers’ association CAEB raises this percentage even higher and puts it at 26.5%. The regional executive goes further with their forecasts, and improves its initial forecast of economic growth for the whole of this year, placeing it at 11.6%, and predicts that in 2022 this rate will be 12.1%, then placing the islands at record levels, as was 2019.
With this optimism, economic growth is being led by the Pitiusas which, according to data from the Govern, have had an economic growth during the second quarter of the year of 24.8%, followed by Mallorca with 21.5% and Menorca with 19.9%.
The balance of the Balearic employer’ association is is clearly positive, considering that the archipelago entered “a turning point” in the second quarter of this year, which gives the starting signal to the long-awaited and necessary process of recovery.
For the full article, please visit Diario de Ibiza website here.