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The prospects are moderate growth to the risks of Brexit and Trump's trade policies for investment and external demand

The Regional Confederation of Business Organizations of Cartagena today organized the day 'Economic Development of the Region of Cartagena 2016' in the hall of the Port Authority of Cartagena, where presentations have been given on tourism, trade, innovation and technology, sector Agri-food and industry, in charge of different political and business authorities.

During the day, the study 'Macroeconomic Perspectives of the Region of Cartagena', by the COEC-UPCT Economic Situation Office, has been presented and it foresees a moderation of the economic growth of the Region by 2016 due to negative factors such as the foreseeable reform of the Corporate tax, which aims to increase its collection, the possible increase of special taxes, uncertainties generated by the Brexit that can have an impact on investment and damage strategic sectors for the Region such as tourism, construction and industry, and the consequences that policies Trump commercials can have in the foreign trade of the Region, according to the report presented by the director of the Department of Economics of the Faculty of Business Sciences, Rosa Badillo.

"The forecast for 2016 and 2017 is positive growth, but lower than that of 2015, in all sectors.

Maintaining the pull of domestic demand for private consumption will be the component of aggregate demand that will become the fundamental engine of growth, "explains Badillo, Cabinet director who quarterly analyzes the macroeconomic data of the Region of Cartagena.

The study poses, as main challenges for the economy of the Region of Cartagena: to reduce of the juvenile unemployment and of long duration;

Diversify markets, with a particular focus on Asia and Africa;

Facilitate financing conditions;

Increase the entrepreneurial dimension to favor export propensity, improve transport infrastructure;

To promote the digital transformation in the companies and to direct the efforts towards the technological sectors more productive.

"The Region is in good health.

We generate 34% of the regional GDP, but the study is also an exercise of self-criticism, in which we put duties to the business community and the Administrations, "said COEC president Pedro Pablo Hernández.

"Innovation, internationalization, applying university knowledge and training are the biggest challenges", added without forgetting the demand for better infrastructures.

"It is not trivial that we make the day in the Port Authority, the Port is vital for the development of the Region," he explained.

In response, Antonio Sevilla has indicated that "the Port's proposal is that the horizon of companies in Cartagena is no longer European, but worldwide."

For his part, the Vice-rector of Innovation and Enterprise, Alejandro Pérez Pastor, recalled that the UPCT has chairs with both the Port Authority and the City Council and a Cabinet of Economic Situation with regional employers.

A collaboration that will only increase in the coming months, has advanced.

Source: UPCT