Andorra, second European country with the highest growth

The International Monetary Fund (IMF), which annually assesses the economic outlook by reviewing the main global indicators and specifically those of each country, revises Andorra's growth prospects upwards in its latest report.

NewsEditor
NewsEditor
25 October 2022 Tuesday 01:46
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Andorra, second European country with the highest growth

The International Monetary Fund (IMF), which annually assesses the economic outlook by reviewing the main global indicators and specifically those of each country, revises Andorra's growth prospects upwards in its latest report.

The IMF points out that the country's nominal GDP for 2022 goes from 8.2% to 10.9%, while the real also increases from 4.5% to 6.6%.

These data place Andorra's economic growth rate above that shown by neighboring countries –Spain (4.3%) and France (2.5%)– and above the average for the euro zone (3.1%). In fact, Andorra, according to the IMF, will be the second European country with the highest economic growth, after Ireland, during 2022.

As for 2023, the growth forecast for nominal GDP goes from 4.7% to 4.8%, and for real GDP, from 2.7% to 2.0%. Some data "significantly" more positive than those of the surrounding countries.

In addition, the International Monetary Fund has revised its inflation outlook, placing Andorra at 5.3% by 2022. This is a lower figure than that of neighboring countries – Spain (8.8%) and France (5. 8%)– or the euro zone average (8.3%).

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