The Instituto de Estudios Económicos (IEE) pointed out on Tuesday that the tax burden in Spain had reached historic highs in 2022, exceeding 42% of GDP and standing above the EU average (41.7%) for 2021 – the last year for which data are available. “The tax effort, i.e. the tax burden normalised according to income, is already 53% higher than the EU average”, warned the IEE President, Íñigo Fernández de…
Eurostat has released employment data for Europe, and among the EU-27, the highest unemployment rates were in Spain (12.4%), Greece (11.4%) and Italy (7.8%). In contrast, the lowest unemployment figures were observed in the Czech Republic (2.7%), Poland and Germany (3% each). The European indicator remains at an all-time low of 6.5%, while Spain doubles the rate and is the country with the highest unemployment, with a rate of 12.4%….
Norbolsa | According to a panel of experts in the sector, in 2023 it is expected that, house prices will advance, albeit timidly, by around 0.5%, compared to last year’s 6%. Sales, meanwhile, after an impressive 2022 (650,000 operations, levels not seen since 2007), will fall by 14%, to 557,000. The housing market has to face higher interest rates, economic slowdown, higher construction costs and a weaker labour market, but…
Spaniards are falling behind the standard of living of the rest of the European economies: they have lost the most wealth per person – €1,700- since 2019, according to data available until 2021, and already occupy the 18th place in the continental standard of living ranking. If in 2018 Spain stood at 91.2% of the EU average gross national income per capita, by in 2021 this had dropped to 83.4%,…
In 2019, the number of retail businesses in Spain was around 460,000. By 2021, that figure had fallen to less than 428,000 businesses. In other words, some 32,000 businesses had fallen by the wayside, a figure that increased by a further 13,000 retail businesses lost in 2022, meaning that some 45,000 businesses would have been lost since the year before the pandemic, according to UPTA data. The rise of e-commerce,…
Bankinter| Telefónica will close 5,800 exchanges that serve landlines and broadband via ADSL between 2023 and 2024, and will replace them with fibre optic exchanges. After the process, Telefónica (TEF) will have ~3,000 fibre-optic exchanges that will replace the ~8,000 that made up the copper network. Opinion of Bankinter’s analysis team: The programme, although planned, accelerates the cost savings and efficiency gains of running a single, more robust fibre network….
Nothing like this has ever happened before since statistical data has been available. The sharp rise in food prices has caused an unprecedented drop in food consumption in Spain. Between November 2021 and the same month last year, sales fell by 8.8% in volume and by up to 2.5% in value. But, asks the daily El Economista, are the Spanish really eating less as a result of inflation? According to…
Between January and November of last year, Spain received more than 67.4 million international visitors, with their spending exceeding 81 billion, the National Statistics Institute (INE) confirmed yesterday. This is a good figure when compared with the same period last year, when 28.2 million foreign tourists were received. However, if it is compared with the same period in 2019, before the coronavirus paralysed the world, the figure is somewhat less…
Spanish electricity demand fell by 6.7% in December compared to the same month of the previous year and after discounting the effects of temperature and working hours. In gross terms, demand is estimated at 20,437 GWh, 7.2% lower than in December 2021. Generation from renewable energy sources accounted for 45.1% of the mix in December. In December, wind energy was the main generation technology in our country. Its production accounted…
Being on a fixed discontinuous contract means a worker has a recurrent seasonal job and therefore works and is registered with the Social Security during the periods when the employer needs him and he is actually working; while in the periods when he is not registered, he can work somewhere else on another contract, or be collecting unemployment benefits… or neither of the two. The only thing that is clear…