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Over 90% of foreign companies in Spain expect to increase or maintain their investment in 2020

In Spain 19th September 2024

INE Revises GDP Growth for umpteenth Time and Increases 36 Billion for 2023

The umpteenth retrospective revision of Spain’s growth data released this Wednesday by the National Statistics Institute (INE) has once again improved the picture for the years 2021, 2022, and 2023, and has rescued €36.4 billion of last year’s GDP that the initial measurement had not detected, therefore raising the real economic growth for 2023 from 2.5% to 2.7%. According to this new statistical correction, the National Gross Domestic Product approached…

Bank of spain new

Spanish economy 18th September 2024

Bad business? Spain increases public debt by 3.8% in twelve months, reaching 108% of GDP, in order to grow by 2.8% in 2024

The Bank of Spain (BdE) raised its growth forecast for this year by five tenths to 2.8% yesterday, while calling for transparent and prompt fiscal consolidation. It also announced that the total public debt of Spain’s administrations decreased by €8.931 billion in July compared to June (-0.5%), reaching €1.616 trillion, the second-highest figure in historical series. This is slightly less than 108% of GDP. The decrease in public debt in…

port valencia

Spanish economy 17th September 2024

Weight of exports in Spain’s GDP rises from 26% to 39% between 2008 and 2023, according to Bank of Spain

Alphavalue / Divacons | Between 2008 and 2023, Spanish exports have grown by almost 50% in real terms and their weight in the GDP has increased by 13 percentage points, from 26% to 39%, an “extraordinary growth” which has been generalised by products and destinations and which has been higher than that of other large Eurozone economies, according to the latest blog published by the Bank of Spain. Thus, in…

Prisa

In Spain 17th September 2024

Former El País Journalist Explains Pedro Sánchez’s Pressures on Newspapers on Same Day Cabinet Approves “Action Plan for Democracy” to Harass Critical Media

David Alandete, currently a correspondent in Washington, says on X: “Pressures on journalists, like when the current president called me, shouting to change a headline? Or when his press chief already knew in advance the headlines we were going to publish in El País (years ago, I assume this no longer happens) and called to modify them? Or like when one of his ministers informed us of layoffs before they…

santander brasil

Spanish economy 17th September 2024

Santander, BBVA, and CaixaBank Join BIS ‘Agora Project’ to Develop New Cross-Border Payment Methods Using Blockchain Technology

Santander, BBVA, and CaixaBank have been selected by the Bank for International Settlements (BIS) to participate in an initiative launched by the Basel-based institution to develop new cross-border payment methods using technologies similar to cryptocurrencies. Named the Agora Project, this BIS initiative aims to “explore how tokenization can strengthen cross-border payments,” according to the organization, which is considered the central bank of central banks, based in Basel, Switzerland. Specifically, the…

bolsa espana reloj

Spanish economy 17th September 2024

Ibex 35 surprises with better performance, breaking worse trends of previous years against peers

Renta 4 | The new annual highs of the Spanish selective index, breaking the 11,470 point zone, have come hand in hand with a new high in its relative performance with respect to the Eurostoxx 50, a performance that, since October 2022, has been setting new highs, breaking the downward trend since 2009: But the better tone of the IBEX 35 is not limited to the main European index. If…

grifols edificio

Spanish economy 16th September 2024

Brookfield seeks €2 billion in capital for possible takeover bid for Grifols

Norbolsa | Brookfield seeks €2,000 million of capital for the eventual takeover bid for Grifols. The funds would be used to alleviate the group’s financial burden. Currently in the analysis phase, if it goes ahead it will be the largest operation of the year in Spain. To this end, Brookfield has held talks with some of the world’s leading sovereign wealth funds, including Abu Dhabi’s ADQ and Singapore’s GIC, as…

CarlosCuerpo

In Spain 16th September 2024

Economy Ministry Aims to Restore Market Unity in Spain and Simplify Regulatory Maze

The Minister of Economy, Trade, and Business, Carlos Cuerpo, will convene the “Sectoral Conference on Regulatory Improvement and Business Climate” on Wednesday with the goal of establishing a common regulatory framework for businesses and reducing the regulatory maze created in recent years by Spain’s 17 autonomous communities. This maze has resulted in a vast amount of regulations in addition to those from the European Union and national laws, ultimately fragmenting…

aena

Spanish economy 14th September 2024

Aena handles 32.1 million passengers in August, up 7% year-on-year, and 9% compared to pre-pandemic levels

Intermoney | The company (Buy, PO €205) announced yesterday with the market open the traffic figures for the past month of August. In that watertight period, Aena handled 32.1 million passengers, implying an increase of 7% year-on-year, or 9% compared to pre-pandemic levels. By airports, Madrid-Barajas grew by 5%, while Barcelona El Prat remained virtually stable compared to August 2023. In general, the tourist airports recorded increases of between 5…

ELECTRIC CAR

In Spain 13th September 2024

Unease in Brussels over Sánchez’s change of position on tariffs on Chinese electric cars

“The European Commission is responsible for the EU’s trade policy,” said EU spokesman Olof Gill at a press conference after being asked about the position of Spanish Prime Minister Pedro Sanchez. Pedro Sanchez’s statements on his visit to Beijing have caused a stir in Brussels. His change of position, appealing to “reconsider” the imposition of tariffs on green car batteries imported from the Asian giant, has not been very well…