Catalan economy “recovers dynamism,” says chamber of commerce
Growth foreseen for 2018 raised from 2.7 to 3.1%
The Catalan economy recovered “dynamism” in the first term of 2018. This, according to Barcelona’s Chamber of Commerce. In a press conference, its president, Miquel Valls, said that the economic side effects of the political woes of last autumn have been “isolated” and only in some sectors, and have been left behind. According to him, tourism and trade were the most affected ones in the last months of 2017, but green numbers are also back in these sectors.
With these positive figures on the table, the chamber of commerce announced this Thursday that it raises the Catalan economy growth forecast for 2018 from 2.7% to 3.1%. Thus, the Chamber believes that the slowing down of the economy due to the political situation foreseen some months ago is not happening. Yet the institution has urged for a formation of a new government for the country because the current impasse is “negative,” according to Valls.
"Catalan economy is doing well in general"
Jaume Guardiola · Banc Sabadell CEO
The CEO of one of the most important banks in Catalonia, Jaume Guardiola with Banc Sabadell, also expressed a positive outlook for the first three months of 2018. “Catalan economy is doing well in general,” he said. “It is a very open economy and the world surrounding it is growing a lot,” he added. Guardiola made these remarks while presenting the bank’s results for this term. Banc Sabadell has earned 259.3 million euros in the first three months of 2018, 33% more than in the same period of 2017.
Another big Catalan firm, Gas Natural, also released its results for the time from January to March 2018. The gas supplier company won 320 million euros during this period, which means 7.4% more than in the first quarter of 2017. This is due to “good behavior of the gas commercialization sector.” Both Banc Sabadell and Gas Natural are Catalan firms which moved their headquarters out of Catalonia last autumn, at the peak of the political conflict in the country.