President Armengol (left) with Nadia Calviño in Palma on Friday. | Jaume Morey

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In Palma on Friday, the first deputy prime minister and minister for economic affairs, Nadia Calviño, stressed that the Balearic Islands will be one of the regions to lead economic recovery in Spain. In this regard, she pointed to there being excellent forecasts for the tourism season.

Calviño, who met President Armengol at the Balearic government's Consolat de Mar headquarters, praised the capacity of the islands when it comes to managing aid to combat the economic crisis, both because of the pandemic and the war in Ukraine. "Not all regions have been able to forward this aid to businesses," she said.

"I have congratulated President Armengol because more than 10,000 businesses and self-employed have benefited from this aid." The minister added that the Balearic ministry for European funds has been one of the keys to managing these funds: "The fact that there is such a ministry means allocating resources where there is priority."

Noting that current Bank of Spain forecasts are for 4.5% growth nationwide, despite uncertainties created by the war, Calviño emphasised that "the Balearics will be one of the engines of economic recovery".