The Independent Authority for Fiscal Responsibility (AIReF) endorses the forecasts accompanying the draft 2025 budget for Galicia, which presents estimates of growth in Gross Domestic Product (GDP) and its components on the supply and demand side in volume terms, as well as GDP in current terms, the implicit GDP deflator and employment for the period 2023-2028 that differ from the latest estimates of the Government’s macroeconomic scenario for the country as a whole.
Galicia estimates GDP growth in volume terms of 2.1%, very similar to the forecast made by AIReF (2%). This forecast is within the range of forecasts made by other agencies for Galicia, although these forecasts do not yet include the recent revisions of the National Accounts. The nominal growth expected for 2025 is lower than AIReF’s forecast
