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The economy of the region of Cartagena will continue to grow next year, although at a slower pace than it had in 2017. This is the main conclusion of the analysis carried out by the Department of Studies of Economic Situation (SECE) of the Polytechnic University

The region will slow down its growth due to a lower expected contribution of exports, a less dynamic domestic demand due to a worsening of the expectations of private economic agents due to uncertainty about the rate of growth of interest rates, in order to the accommodative monetary policy announced by the European Central Bank in 2019 and the effects that commercial agreements with the United Kingdom, due to the "brexit", may have on the Shire, according to the researchers.

The study shows that sustainable and continuous growth can be achieved over time in the Comarca of Cartagena, favoring, especially, the development of infrastructures and investing in training, innovation and new technologies, respecting the environment.

Hence, the challenges that stand out for the development of the region is the improvement of transport infrastructure, both passengers and goods, through the Mediterranean Merchandise Corridor, the expansion of the El Gorguel dock, and the improvement of rail and airport connections and by road.

They also point out that the digital transformation of industry and services should be favored, which will increase competitiveness.

For this, they have an impact on the need to invest in human capital, encourage the adoption of the latest technological innovations, adapt institutions and regulation to facilitate this technological change.

In that sense, they ask to promote innovation and technology through the promotion of University-Business symbiosis for a greater transfer of university knowledge to the regional business fabric.

In addition, the challenges highlighted include the recovery of the conditions of the Mar Menor, the increase in business efforts by the greater capitalization of companies and modification of financing plans at fixed rates, diversification of markets and product destinations, as the Asian and African, facilitate the increase of the business dimension, which will favor their competitiveness, and pose the search for solutions, by the Public Administration, to solve the problem of the water deficit of the Region.

The objective of the report that has been presented is to constitute a tool for diagnosing the economic situation of the Comarca of Cartagena that allows establishing strategic lines for its economic development in the coming years.

The lack of this type of studies at the level of the Region of Cartagena and the need to know better its productive fabric, as well as the socioeconomic conditions that affect it, guarantee its importance.

The study was carried out by the researchers of the SECE, Mª Lourdes Badillo, Mª Victoria García, Víctor López, Carmen Marco, José Miguel Navarro and Miguel Ángel Tobarra and other speakers at the 16th Conference for Business Managers of the UPCT (Francisco Alcón, Andrés Artal, Juan Jesús Bernal, Juan Patricio Castro, Antonio Duréndez and Antonio García), as well as the Regional Confederation of Business Organizations of Cartagena (COEC).

Source: UPCT