20/09/2013 00:00
TW
0

THE regional minister for Economy, Tax and Innovation, Lluis Ramis de Ayreflor, said yesterday that the drop in productivity in the Balearics over the last few years can be attributed to population increase. He added that more specifically, it was due to the high numbers of immigrants that have found their way into the Islands' labour market.
At the same time, he defended the development of economic sectors with added value such as audiovisual markets and “know how” in tourist business.
Ramis de Ayreflor said it was “a logical conclusion” that the Balearic economy “should be dragged down” by this productivity problem. A warning to this effect was released yesterday by the Centre of Economic Research (CRE) of the Sa Nostra Banking group and the Balearic University. The study pointed to a great deal of poorly qualified foreign labour being channelled onto the Islands' labour market in recent years. To address the problem and at least minimise its consequences, the minister signalled that the Balearic government had already made allowance in its 2005 Budget for a significant increase in investment in education. Later this month the regional Science and Technology Plan which will be up for approval, advocating increases of up to five times the amounts to be set aside for investigation, development and innovation. Ramis believed that the Balearic University will be “fundamental” in the coming years to reduce the school “drop-out” rate.