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12/18/2014

Good prospects for Navarre

The economy of Navarre is gradually but steadily improving. Savings bank Laboral Kutxa forecasts growth of 2.1% in the coming year, 3 tenths more than reported in September. This figure could also increase “certainly by another 3 tenths if nothing goes seriously wrong on a world scale and oil prices remain low” over a long period.

This is the opinion of Joseba Madariaga, Head of the Studies Department at Laboral Kutxa, who presented the report on economic prospects in Bilbao and Pamplona. He explained that the forecasts place Navarre one tenth higher than the average for Spain (where growth is expected to be 2%) and 3 tenths higher than the Autonomous Community of the Basque Country, where the forecast is 1.8%. The savings bank has also upgraded its earlier forecast of growth for this year from 1.2% to 1.4% at the end of December.