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The Andalusian economy contracted by 11.2% in 2020 due to the pandemic, severely affecting tourist areas. Growth of 5.4% is expected in 2021 and 6.6% in 2022, driven by the progress of vaccination, the recovery of consumption, and the impact of the European NGEU funds.

The Colombian economy projects a 2.3% growth this year, amid fiscal challenges and high rates. In this context, the rice sector, which contributes 0.3% of the national GDP, faces reduced margins due to high inventories and lower prices, projecting a drop in planting for 2026.

The reports analyze the economic recovery in Andalusia after the pandemic, with a projected growth of 5.4% in 2021, and the situation in Argentina, which projects a 4.5% expansion in 2025 driven by fiscal balance, disinflation, and the normalization of monetary policy.

Andalusia's GDP contracted by 11.2% in 2020 due to the pandemic's impact on tourism and consumption. For 2021 and 2022, growth is forecast at 5.4% and 6.6% respectively, driven by European NGEU funds, vaccination progress, and the recovery of the services sector.

The Federal Reserve is expected to deliver a third consecutive 25bp rate cut to 3.50-3.75% amid a softening labor market. However, a highly divided FOMC will likely signal a pause for early next year, as the room for risk-management cuts has run its course and inflation remains near 3%.

The Spanish economy will maintain its expansion in 2026 and 2027 with GDP growth of 2.4%, driven by tourism, immigration, and public policies. However, geopolitical uncertainty and structural challenges will generate a heterogeneous impact across the different autonomous communities.

The 2024 Economic Censuses show that Mexican MSMEs generate over 71% of employment but face significant gaps compared to large firms. Their low productivity is linked to a lack of formal financing and limited digitalization, which are key challenges to boosting the country's economic growth.