CEPREDE, the Centre for Economic Forecasting, estimated that during 2004, the Balearics will “stand in the queue” along with all other regions of the country in terms of economic growth.

The Islands' rate of growth currently stands at 1.9 percent, due chiefly to the “unconfirmed expectations” surrounding tourist industry development.
According to CEPREDE, the Balearics featured in the list of regions with the most disappointing economic growth last year (0.9%); lower even than the Canary Islands (2%); Asturias and Catalonia (2.1% each case).

In the case of the Balearics, said CEPREDE, the cause of the poor economic performance centred around the uncertainty in the tourist industry, the “bread and butter” of the Islands activity. This in turn had negatively affected public services.

For 2004, the economic group predicts that there will be an average national growth of 2.9 percent, which in the case of Castilla-La Mancha would rise above the rest to 3.4 percent while the Balearics would remain in the queue with 1.9 percent. CEPREDE furthered that the difference between regions in terms of their percentage growth would be minimal this year.


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