The Independent Authority for Fiscal Responsibility (AIReF) endorses the forecasts that accompany the 2024 draft budget for Navarre, which present growth estimates of the Gross Domestic Product (GDP) in volume terms and at current prices, the GDP deflator, the Consumer Price Index (CPI) and employment for the period 2023-2026.
This region estimates GDP growth in volume terms of 1.3% in 2024. This forecast falls within percentiles 40-60 of AIReF’s estimates, with a central forecast of 1.4%, close to the lower end of the range of forecasts made by other organisations — although some of these have not yet incorporated the recent revisions of the national accounts. Navarre’s expected nominal growth for 2024 (4.4%) is also lower than that forecast by AIReF (4.6%).