“No doubt, Andorra is standing on the way of recuperation from the impacts of financial crisis. This is confirmed by the financial indexes of the first part of 2014, that after a long time of constant decrease finally demonstrated positive dynamics”, commented the Chief Operating Officer of Banca Privada d’Andorra Joan Paul Miguel during the presentation of BPA financial and economic results at the headquarters of the bank.
Though his colleague Josep Peralba, the Managing Director of Credit Andorra, previously claimed that the crisis will end up no earlier than 2016. Alongside with that, Joan Paul Miguel assumed that this year the GDP of Andorra will be positive (though, lower than 1%). In case the country manages to keep the tempos at the level of the current year, this index may rise up to 3.9% in 2015.
Among other indexes that demonstrate positive alterations there is the population growth in comparison to the previous year (19.4%, which is almost twice higher than in 2013), the increase of the amount of employees (for the first time within 7 years), the expansion of touristic flow (5.1%).
BPA Chief Operating Officer drew the attention to a “unique aspect” in the relations with neighbor countries: the low level of inflation in the country. “This fact allows us to stay compatible”, he resumed.