4 Feb, 2024 @ 09:56
1 min read

Drought will cost Spain’s Andalucia €4.5 BILLION this year: The Junta’s stark warning as it asks the EU for more support.

Farming Fields

THE ongoing lack of rainfall in Spain’s Andalusia is having a serious effect on the southern region’s economy, and is likely to cost as much as €4.5 billion this year alone. 

That figure comes from a report presented by the regional government, known as the Junta, to the European Commission. 

The regional premier, Juanma Moreno, delivered the report as part of a request to the vice-president of the European Commission, Maroš Šef?ovi?, for more support to tackle the damage caused by the lack of rain from the bloc’s Solidarity Fund. 

The study contained new information, including the aforementioned forecast cost to the economy for this year, Diaro Sur reported.

Farming Fields
Drought is having a serious economic effect on Andalucia’s farming sector.

The regional government also cited the cost to the Andalusian economy of the drought for 2023, with a contraction of 2.1% of GDP, for a total of €4.2 billion. 

The report reached these conclusions by analysing all of the sectors and sub-sectors that are affected by the lack of water, with particular focus on agricultural production. 

Figures from the IECA Andalusian statistics institute cited in the report show that agricultural production fell by 13% in Andalusia compared to 2% for Spain as a whole in 2023, and that the agri-food industry also lost 13% of value in the region. 

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