Page 3 - XARMANTA EXPERIENCES

The Basque Country has a tax
system of its own which is unique in
the world. The so-called Concierto
Económico (Economic Agreement)
is a structure of bilateral tax and
financial relations between the
Basque Country and Spain. The
development Basque society in
progress
and
by
SAN recent decades in and social
achieved
terms
of
growth
economic
been
have
cohesion
would
scarcely
SEBASTIAN possible without the tool of the
Economic Agreement.
Industry is the driving force of the
Basque economy, accounting for
21.7% of GDP, and it aims to lead the
fourth industrial revolution: 130%
productivity per employee.
Unemployment stands at 12.89%,
well below its neighbours.
The Basque Country has the eighth
highest per capita income in
Europe. 33% of the population aged
16 and over had higher
qualifications. The life expectancy is
83.4 years, a figure which is only
beaten in the world by Japan and
Hong Kong.