The Independent Authority for Fiscal Responsibility (AIReF) endorses the forecasts accompanying the draft budget of Valencia for 2025, which presents growth estimates of the Gross Domestic Product (GDP) and employment, in terms of people employed in the Spanish Regional Accounts, for the period 2024-2025, and the Gross Domestic Product (GDP) in volume terms for the period 2024-2035, which are different from the latest forecasts of the Government of Spain’s macroeconomic scenario for the country as a whole.
Valencia estimates GDP growth in volume terms of 2% for 2025. This forecast is lower than expected by AIReF (2.4%) and is below the lower end of the range of forecasts made by other organisations for the Autonomous Region (AR). The forecasts for the Region’s nominal GDP for 2025 are included in the central range of AIReF forecasts.
