The Independent Authority for Fiscal Responsibility (AIReF) endorses the forecasts accompanying Extremadura’s 2024 draft budget, which presents estimates of GDP growth in volume terms and employment for the period 2023-2026 that differ from the latest estimates of the macroeconomic scenario for the country as a whole.
Extremadura estimates GDP growth in volume terms of 2% in 2024. This forecast is slightly above the 60th percentile of AIReF’s confidence bands of estimates, which denotes the existence of downside risks. Although this estimate is within the range of forecasts made by other agencies, most analysts have not yet incorporated the revisions to the national accounts published at the end of September, nor the recent worsening of the global growth outlook.
