According to calculations by Funcas and Analistas Financieros Internacionales (AFI), Spain has only spent €39 billion of the €71.366 billion received, representing an execution rate of barely 45% for a program that launched in 2021. Furthermore, nearly the same amount remains to be requested, as the government expects to receive up to €103 billion after waiving €60 billion in loans to which it was entitled. The entirety of the funds…
In 2025, single Spanish worker without children allocated 41.4% of their gross salary to taxes and Social Security contributions. This compares to an average “tax wedge” of 35.1% across the Organization for Economic Co-operation and Development (OECD), according to the “Taxing Wages” report published by the advanced economies’ think tank. While the tax burden on labor costs in the OECD increased by an average of 0.15 percentage points compared to…
Alphavalue/ Divacons| Employment linked to tourism activities in Spain rose by 115,044 people in March, bringing the total figure to over 2.87 million workers. According to data published on Friday by Turespaña, this represents an annual increase of 4.2%.
In the month of February, Spanish exports totaled €31.72 billion, a 0.8% year-on-year decrease; meanwhile, imports fell by 1.1% year-on-year. Consequently, the trade deficit was reduced, and the coverage rate between exports and imports rose to 90.6%. The 0.8% decline in sales in February compares favorably with the 3.4% drop in the Eurozone and the 2.7% decrease across the EU-27. On the import side, Spain’s 1.1% decline is also lower…
The number of building completion certificates in Spain stood at 20,720 units between July and September 2025, compared to 23,186 during the same period a year earlier. This drop of over 10% is the largest ever recorded in a third quarter and the sharpest overall, trailing only the 11.4% decline in the first quarter of 2025 and the 10.9% drop in the second quarter of 2020, at the height of…
Link Securities | Repsol (REP) will claim €125 million from the electricity companies Iberdrola (IBE), Endesa (ELE) and Naturgy (NTGY) over the power cut on 28 April 2025, which affected its five refineries in Spain, as the deadline for claiming damages expires this month, according to the newspaper Expansión. This was confirmed to the newspaper by sources familiar with these legal proceedings.
Alphavalue / Divacons | House prices in Spain, for both new and existing homes, shot up by 14.7% year-on-year in March, standing 11.1 percentage points above inflation. According to the Tinsa IMIE General Index, this rise consolidates a two-year trend of “uninterrupted monthly growth”.
Unprecedented. Just 10 days ago, the President of the Congress, Francina Armengol—former Socialist President of the Balearic Islands during the COVID era—testified as a witness before the Supreme Court in the so-called “masks case.” The trial involves, among others, the former PSOE Organization Secretary and former Minister of Transport, José Luis Ávalos, and his then-advisor, Koldo García. In the masks case, it appears proven that both, along with a private…
Ángela de Miguel, president of CEPYME (the Spanish Confederation of Small and Medium-Sized Enterprises), has brought a striking figure to the table: nearly one-third of Spanish SMEs are in the red. This was already the case in 2024, and since then, the situation—driven by tax pressure, rising wages, and inflation—has only worsened. The data used by CEPYME to support this claim comes from the Bank of Spain’s Central Balance Sheet…
The Government gave the green light yesterday to the seventh “extraordinary” regularization of immigrants approved during Spanish democracy. This is, in itself, a symptom of the absolute lack of a migration policy worthy of the name. The regularization—supported by the Government’s partners (PSOE and Sumar), the employers’ association CEOE, and the Spanish Church—will not go through Parliament, where it would face a potential veto given that both PP and Vox…