Andorrans voted this Sunday in favor of continuity, giving confidence to Xavier Espot, present head of presidency, for one more 4 years.
Andorrans voted this Sunday in favor of continuity, giving confidence to Xavier Espot, present head of presidency, for one more 4 years. And the actual fact is that the principality looks as if an island in the midst of so many storms that exist within the nations round it. The expansion of the Andorran financial system in 2022 was 9 % and for the following few years it's anticipated to rise properly above the European common. The elimination of financial institution secrecy in 2016 has not brought about any turbulence, and the sector closed final yr's monetary yr with a optimistic results of 113 million euros. The local weather disaster that might have an effect on snow tourism, one of many nice assets of the Andorran financial system, can also be not seen within the principality as a result of this season is near reaching an important document of ski passes on the Grandvalira macro station. The current celebration of the finals of the Ski World Cup on these slopes is the perfect proof of the organizational capability of the Nation of the Pyrenees.
The one cloud on the horizon is the affiliation settlement with the European Union, which suggests Andorra's entry to the European inner market and can permit the free motion of individuals, items, providers and capital. The Andorran Authorities and the European Union authorities have been negotiating for seven years, and all the pieces appears properly centered. Nonetheless, one of many elementary keys will probably be to know what the Andorran tax mannequin will appear like, which is a superb attraction for firms and people.
The fact is that the naysayers who predicted an financial disaster within the small nation on the expense of the elimination of banking secrecy are at the moment going through actuality. Tourism and commerce proceed to be the 2 foremost engines of the financial system, to the purpose that the value per sq. meter of housing in 2022 grew by 6.1%. Anybody who visits Andorra will discover the nice depth of development within the nation.
Espot could have an absolute majority with its formation, Democrats, to take care of its roadmap. Andorra has chosen stability.
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