Navarre economy to grow 1.9% in 2026 and 1.7% in 2027, Laboral Kutxa says

Laboral Kutxa’s 2025 Navarre Economy Report projects regional GDP growth of 1.9% in 2026 and 1.7% in 2027, slower than the Spanish average of 2.3% and 1.9% for the same years. The forecast cites weaker momentum in the Eurozone, higher energy costs and tighter monetary policy as constraints, while the services sector and labour market are expected to support growth.

The institute also expects the regional consumer‑price index to rise 3.1% in 2026, slightly above Spain’s projected 3.5%, and unemployment to fall to about 8.3% in 2026 and 8.1% in 2027, both lower than the national rates. Analysts highlighted a discrepancy in the industrial sector, where modest GDP gains contrast with a relatively strong rise in industrial employment.

Laboral Kutxa cautioned that the outlook requires prudence, describing the growth as “with less margin of safety” and stressing the influence of European industrial cycles, energy prices and international uncertainty.