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Santiago Lago Peñas: “Galicia’s Economy Is Expected to Grow Above 2% Again in 2026”

  • 1 jul
  • 1 min de lectura

Professor Santiago Lago Peñas, Chair of Public Finance at the University of Santiago de Compostela (USC), Director of the Galician Economic Forum and IDEAGOV, presented the Socioeconomic Outlook Report I/2026, highlighting the resilience of Galicia’s economy and its positive growth prospects despite an increasingly uncertain international environment.


According to Lago Peñas, Galicia has now recorded five consecutive years of economic growth and, unless exceptional circumstances arise, is expected to grow by more than 2% once again in 2026. While acknowledging the impact of geopolitical tensions and trade uncertainty, he stressed that the Galician economy continues to show remarkable strength.


Looking ahead, Lago Peñas called for greater political ambition and broader consensus to undertake long-term structural reforms, particularly in the areas of taxation, regional financing and public administration. He also identified demographic decline as Galicia’s most significant long-term challenge.


The report, prepared together with Fernando González Laxe, Patricio Sánchez Fernández and José Francisco Armesto Pina, estimates that Galicia’s economy grew by 2.4% in the first quarter of 2026, driven mainly by domestic demand. It also highlights the continued positive performance of the labour market, with improvements in employment quality and sustained growth across the main labour market indicators.




 
 
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