According to the Bank of Spain (BdE), the debt of Spain’s public administrations as a whole increased by 1% in March compared to February, reaching a record high of €1.535 trillion, bringing it to 113% of GDP (113.2% at the end of 2022) – the BdE uses the nominal GDP of the last four quarters for this calculation. In the last 12 months, Spain’s public debt has grown by 5.6%…
Naturgy has won the bid for the renewable assets of the French fund Ardian in Spain. The company headed by Francisco Reynés has announced today the acquisition of 100% of ASR Wind, which has a total of 422 MW distributed in 12 wind farms in operation in Spain. The transaction also includes a pipeline of solar hybridisations of up to 435 MW, which are at an advanced stage of development…
Minister José Luis Escrivá’s recent pension reform will leave a public deficit of up to €22,000 million in the public coffers in 2023 alone, with its consequent negative effects on employment, growth and the competitiveness of the Spanish economy. This is what is stated in the latest report by the Institute of Economic Studies (IEE in its Spanish initials), which, under the title “La subida de las cotizaciones sociales (The…
The European Commission (EC) calculates that the Spanish economy will grow by 1.9% in 2023, five tenths above the winter forecast, and above the 1.1% forecast for the Eurozone and the 1% forecast for the European Union (EU) as a whole. Spain’s growth forecast for 2024 remains at 2%. The EC also reduced the Spanish inflation forecast to 4% for the current year, four tenths of a percentage point lower…
Bankinter: April CPI (final) confirms +4.1% year-on-year preliminary announcement from +3.3% in March. In month-on-month terms it remains at +0.6% m/m preliminary (from +0.4% previously). The groups most affecting the monthly rise are Footwear and Clothing, Accommodation and Leisure Services. While Housing declined due to lower gas and electricity prices. Core CPI also remains at a preliminary +6.6% year-on-year and from +7.5% year-on-year previously. Annual CPI rateGeneral and core rate….
José Luis Escrivá will go down in history as the minister whose trade unions called the first ever strike in the history of the Ministry of Inclusion, Social Security and Migration. Staff shortages, delays in appointments and in the recognition of benefits, the closure of offices, and non-compliance with the agreements signed with the trade unions. For all these reasons, the trade unions CSIF and CC.OO. have called partial strikes…
On the left, Pedro Sánchez promises “93,000 affordable homes for young people and families” at a rally in Toledo on 21 April. On the right, at a rally in A Coruña, a week later, on 28 April, he was already promising 183,000 homes at affordable prices for… And with weeks of election campaigning left.
Fernando González Urbaneja| The government has not shied away from criticising employers for their labour management and for allegedly poor relations with unions and workers. They say that the beam in your own eye is less obvious than the speck in someone else’s. On labour relations, the government has little to boast of; its performance is abysmal, and the consequences for the customers of public services and for citizens are…
According to the National Institute of Statistics, the average increase in the gross profit of Spanish companies was 15% in 2022, with Ibex companies’ profits growing by 35%. According to Antoni Cañete, president of Pimec, the employers’ association of small and medium-sized Catalan companies, “it is clear that, if the Ibex earns 35% more and the average is 15%, there are others who have to earn much less… The extraordinary…
Banco Sabadell: The airport company has not received any bids for lot 1 (Madrid Airport) or lot 4 (airports in Catalonia) in the tender for the duty-free shop leasing contracts. These two lots represent 44% of the total RMGA’24 established as a basis for the tender (this could represent a total of around €190 million per year or 4% of AENA’s total revenues; at least 1% of the capitalisation). The…