![\"turista\"](\"https:\/\/mallorcaglobalmag.es\/wp-content\/uploads\/turista.jpg\")
<\/p>\nThe Gross Domestic Product (GDP) of the Balearic Islands has “accelerated” and has grown by 5.9 percent in the first quarter of 2023, compared to the same period last year, according to the Balearic Government<\/p>\n
According to the acting Minister of Economic Model, Tourism and Employment, Iago Negueruela, accompanied by the Director General of Economic Model and Employment, Lloren\u00e7 Pou, the GDP of the Balearic Islands has grown by 5.9 percent in the first quarter of 2023 compared to the same period of 2022.<\/p>\n
In this sense, they have assessed, taking into account the economic data of this quarter and other previous ones, that the GDP growth forecast rises to 5.2 percent for the year as a whole, when initially a rise of 3.9 percent was predicted.<\/p>\n
In addition, reference has also been made to the balance of the Balearic economy from 2015 to 2023, noting an expected cumulative growth of 23.8 percent.<\/p>\n
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“These are exceptional figures. We are an economy that works, that generates wealth in a clear way and that, after the pandemic, has recovered all the lost GDP, and is on a very important path of recovery,” stressed the minister.<\/p>\n
For its part, the Economic Index of the Cercle d’Economia de Mallorca has warned that the Balearic economy “continues to slow down despite the very good performance of the labour market”.<\/p>\n
According to the organisation’s statement on Thursday, the Economic Index shows that 75 percent of the available indicators grew in year-on-year terms in April, two percentage points less than the previous month.<\/p>\n
Therefore, “the economy continues to decelerate, with 34 percent of indicators accelerating”, they explained.<\/p>\n
Thus, they have indicated that “despite the good performance of the labour market, there are many uncertainties such as the evolution of prices, geopolitical tensions or the evolution of the surrounding economies, which may lead growth to a more or less moderate trend”.<\/p>\n
On this point, the Index gives as an example the economy of Germany, the main source of tourism to the Islands, which entered into recession in the first quarter of 2023 with a contraction of 0.3 percent in its Gross Domestic Product (GDP), thus adding a second consecutive fall after the 0.5 percent decline in the last quarter of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"