Ayuso announces in London that Madrid has recovered its pre-pandemic GDP

The president of the Community of Madrid,

, has announced that the region's economy has recovered its pre-pandemic GDP.

This is how she has advanced it in London, where she is on an official trip, after visiting Digital Catapult, from Innovate UK, the national innovation agency of the British Government, and meeting with the director of Policy, Research and Strategic Engagement, Phil Young .

"Today is a very positive day for the Community of Madrid because we have learned that Madrid has already recovered the levels of wealth prior to the pandemic, but unfortunately, even in the country as a whole, this has not happened", he pointed out, to highlight that the The region continues to grow and the "data support the work" that the regional government is carrying out in this regard.

According to the data from the Regional Accounts for the last four-month period of 2022, the region's economy grew last year by up to

.

The Community of Madrid thus consolidates its leadership as the locomotive of the Spanish economy by contributing 19.4% of its Gross Domestic Product.

The Madrid region exceeds the pre-COVID19 figures by nine tenths more, while in Spain as a whole it is at 99%, according to the Regional Accounting data corresponding to the fourth quarter of last year.

Likewise, in the last three months of 2022 there has been an increase in regional GDP of +5% compared to the same period of the previous year, almost double the national average (+2.7%), and +0, 1% in relation to the previous quarter, reports the regional government in a press release.

The outstanding rise in the Community of Madrid has occurred in a general way in all the productive sectors of the region, but the growth of Industry stands out (+5.9%);

Services (+5.8%);

and Construction (+3.3%).

Regarding demand, positive increases are recorded in 2022 both in internal (4.3%) and external (26.7%).

As for the contribution to GDP, the first contributes 4 points and the second the remaining 1.7.

Within domestic demand, investment stands out, advancing up to 6.6%.

ABOVE THE NATIONAL AVERAGE

The Accounting data also reflects the dynamism of the Community of Madrid, which means that more than 22,800 new companies were created last year, representing 23% of the national total.

The capital subscribed by these companies accounts for one in three euros in the entire country and amounts to more than 1,400 million euros.

Regarding foreign investment, it should be noted that Madrid has received more than 14,500 million, 65% of the national total.

In terms of employment, the number of affiliates stands at more than 3.5 million people working at the end of 2022, already exceeding by 6.7% those registered in 2019.

This is the highest figure in the entire historical series.

Furthermore, the unemployment rate in the last quarter stood at 11.5%, 1.4 points lower than the national average, which stands at 12.9%.

The Community has the most stable labor market in Spain: 86.1% of the contracts are permanent.

Regarding economic forecasts, for 2023 the main agencies expect a better performance of the Madrid economy than the Spanish economy, with growth of +1.6% for this year (three tenths above that of the country) and 3.2% by 2024 compared to 2.6% nationally.

According to the criteria of The Trust Project

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