Basque economy shows resilience with job growth and rising tax revenue

The Basque economy is demonstrating resilience through steady employment growth and tax revenue increases, despite challenges from inflation and geopolitical uncertainties. According to data presented to the Basque Parliament, the region has added 13,000 full-time jobs compared to the previous year, contributing to a 1.3% increase in full-time positions.

Economic indicators show a strong trend, with the GDP growing by 2.3% year-on-year in the second quarter, marking 22 consecutive quarters of growth above 2%. This performance has exceeded initial government forecasts.

Regarding fiscal matters, tax collection between January and August reached 13,072 million euros, a 2.7% increase over the same period last year. While corporate and personal income tax revenues have grown, this progress has been partially offset by a decline in VAT collection and various anti-crisis measures. These measures, including industrial shields and tax relief on electricity and fuel, were implemented to mitigate economic impacts stemming from international conflicts.