The Independent Authority for Fiscal Responsibility (AIReF) endorses the forecasts accompanying the 2024 draft budgets of the Community of Madrid, which presents estimates of GDP growth in volume terms and employment for the period 2023-2024.
The community places GDP growth in a range between 1.9% and 2.1%, somewhat higher than AIReF’s central estimate of 1.8%, but within the 40-60 percentiles of the institution’s confidence bands. Likewise, the community’s estimate is within the range of the most recent estimates of the panelists who prepare forecasts for the Community of Madrid.