The Canary Islands economy will grow by 3.2% in 2017, three tenths less than in 2016, due to the exhaustion of the stimulus measures caused by the reduction in oil prices, low interest rates and the monetary policy of the European Central Bank.
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KEYS
But in the short term it is worrying because of the legal, political and economic insecurity that raise, on the one hand, the situation caused by the call of the illegal referendum in Catalonia and the possible unilateral declaration of independence of that autonomous community; and on the other hand and on the external level, the request of the United Kingdom to leave the European Union Brexit, and the geopolitical tensions created by the proliferation of nuclear and ballistic tests by North Korea.
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FORECASTS
Tourism will reduce its growth rate by a third, which will reduce its contribution to regional GDP growth by that same proportion. The unemployment rate will be reduced to 22.35% of the active population at the end of the year, and 24,000 new jobs, due to the positive impulse of the increase in public spending and investment, foreseen in the budgets.
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REPORT
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