19/01/2013 00:00
TW
0

Palma de Majorca.—A report commissioned by Central Government and published yesterday by the National Institute of Statistics (INE) was making comparisons with the Balearic gross product (PIB) as it stood 15 years ago and now. If the contribution by each Spanish citizen to national gross product was 100 euros in 1997, then the Balearic PIB was considerably higher with each citizen bringing an average of 121.3 euros.

But now, the figure for the Balearics has slumped to 107 euros, a downturn of 11.78%, the highest drop in the country over the time span.
Although the PIB in the Balearics has in fact been growing in recent years, it has not kept pace with the population increase so that impoverishment is based on the fact that with so many more people, the average contribution is pushed lower. The once poorest region, Extremadura is rapidly catching up with the Balearics.