Santa Cruz de Tenerife, (EFE).- The president of the Chamber of Commerce of Santa Cruz de Tenerife, Santiago Sesé, highlighted this Friday that the Canarian economy has continued to show dynamism during the first quarter of this year, and above what was expected.
This has been seen in the estimates of the Canary Islands Institute of Statistics (Istac), according to which during the first quarter of 2023 the Gross Domestic Product (GDP) of the islands has grown by 2.9 percent compared to the fourth quarter of 2002 , while the Spanish average has been 0.5 percent.
At a press conference to present the data from the Canary Islands Economic Situation Bulletin corresponding to the first quarter of 2023, Santiago Sesé pointed out that the Canary Islands economy has been showing strength for several quarters, and added that, in annual terms, it has grown on 7, 4 percent, and the national average has been 3.8 percent.
He has highlighted the progress compared to previous months, and has also highlighted that all the productive sectors have contributed, although with a “clear leadership” on the part of the tourist activity.
The president of the Chamber of Commerce of Santa Cruz de Tenerife has pointed out that the Canary Islands economy may be in a “reasonably sustainable” line this year, although the growth will not be like that of 2022 (with a growth of around 8, 2 percent), but estimates that it will be 3 percent.
Santiago Sesé has referred to the uncertainties that arise from the changes in direction of monetary policy to contain inflation, which will lead to rises in interest rates, which will influence consumption, investment, and could do so in a increase in delinquency.
He has also spoken that there are “reasonable doubts” that private consumption will continue, which has risen due to the savings accumulated during the pandemic, and that the good behavior of employment will continue, factors that “are beginning to run out”.
On the supply side, he has said that the rise in interest rates will lead to an increase in companies’ financial expenses and investment capacity.
Santiago Sesé has expressed his concern that projects led by the administration are delayed during the election year, which could lead those that depend on Next Generation funds to become a “missed opportunity.”
He has also demanded that the social and economic agents have as much dialogue as possible with the next regional government, and has asked the political class for a commitment to modernize the administration and to insist on public-private collaboration.
Santiago Sesé has also spoken of the need to improve competitiveness, and for this he has commented that quality infrastructures are needed and take advantage of the Economic and Fiscal Regime (REF) to diversify the economy.
In order to improve productivity, he has indicated that it is necessary to improve training, and for this he has asked that Dual Vocational Training be valued, and he has assured that if it is improved in this aspect, it will help to improve wages and fight against poverty .
During the press conference, in which he was accompanied by the general director of the Chamber of Commerce, Lola Pérez, and the territorial director of CaixaBank in the Canary Islands, Manuel Afonso, he expressed his rejection of the “anti-tourism” demonstration that was It was carried out in the south of Tenerife because the image and viability of the main economic engine of the islands is endangered.
And it has valued that the outermost regions of the European Union are exempt from the kerosene tax.
The territorial director of CaixaBank in the Canary Islands has recalled that the data is so positive that “nobody” expected it given the uncertainty that existed due to inflation, war and interest rates, and has commented that the data they have due to the use of cards consumption has increased by 11 percent compared to the same period in 2022.
Manuel Afonso has said that the delinquency data is even positive, since it is at “historic lows” at 2.7. EFE
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