The Independent Authority for Fiscal Responsibility (AIReF) endorses the forecasts that accompany the 2024 draft budget for the Balearic Islands, which present different growth estimates of the Gross Domestic Product (GDP) in volume terms and at current prices, and of employment for the period 2023-2024, from the latest macroeconomic scenarios for the country as a whole.
This region estimates GDP growth in volume terms of 2.6% in 2024. This forecast is higher than AIReF’s central estimate, although it stands between percentiles 40 and 60 of the forecast intervals. It also stands above those forecasts made by other bodies for the region, although it should be noted that some bodies’ forecasts do not yet incorporate the recent national accounting revisions. The nominal growth expected by the Balearic Islands (6.2%) is also higher than AIReF’s forecast of 5.4%.