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Araceli

Spanish economy 20th October 2021

Almost 80% Of The Total Spanish Population Is Vaccinated

The Ministry of Health has notified on Monday that 90% of the target population, i.e. those covered by the vaccination campaign, have already received at least one dose of COVID-19 vaccine. In total there are 37,891,519 people, almost 80% of the total population of Spain. With regard to the current average incidence of infection in Spain in the last 14 days, the slight rise recorded in recent days has been slowed down, with the figure falling to 41.90 cases per 100,000 inhabitants.

Just Sanchez

Spanish economy 19th October 2021

European Funds Get Bogged Down in Bureaucracy

According to El Periódico, “the excessive expectations that had been created about a rapid arrival of European money to the Spanish economy are colliding with bureaucracy and the lack of communication between administrations and companies”. The Ministry of Finance claims that 60.9% of the funds planned for this year have already been authorised – through the Council of Ministers and the different sectoral conferences – and that 25.5% of the…

Naturgy Australia

Spanish economy 18th October 2021

Naturgy Remains Above The Price Of The Takeover Bid

IFM’s takeover bid for 22.7% of the capital of Naturgy (NTGY) at a price of 22.07 euros/share ended Thursday, with a level of acceptance of 10.83%. Far below the aspirations of the Australian fund. Naturgy shares rose on Thursday by 4.62% to 24.01 euros/share (a high of 24.87 euros/share) and closed on Friday at 23.25 euros/share. Today, Monday, it is still trading at 23 euros per share. Analysts suspect that…

pedro sanchez preocupado

Spanish economy 18th October 2021

Will The Spanish Budget Deliver A Fair Recovery?

J.P. Marín-Arrese | The Spanish government boasts that the tabled budget will benefit most citizens, from pensioners to young people, self-employed people or civil servants. It hopes targeting such groups will pay off when election time comes. The government is also pinning its re-election hopes on the bonuses it will give young people to help them find a place to live on their own and on the money for entertainment…

families deposits

Spanish economy 18th October 2021

Spanish Families Earmark 5% Of Their Financial Savings Directly For The Stock Market

Fernando Rodríguez | Spanish househods held direct investments in listed equities for a balance of 131,441 million euros at the end of the first half of this year, 5.3% of their total resources dedicated to financial savings, according to the statistics of Inverco, the collective investment industry employers’ association. In the last 20 years, this percentage has fluctuated between the 10.5% maximum in 2000, and 4.5% in 2011 -with the economic crisis at its peak.

spain savings rate

Spanish economy 17th October 2021

Spain: Inflation Rises To 4%.

Link Securities | According to the final estimate for the figure, released by the National Statistics Institute (INE), the consumer price index (CPI) in Spain rose by 0.8% in September compared with August. This brings the year-on-year growth rate to 4.0% (3.7% in August). The reading was in line with its preliminary one and with analysts’ consensus expectations. Inflation is thus at its highest level since September 2008. In September,…

High speed AVE trains

Spanish economy 15th October 2021

Renfe, Correos, Adif, Paradores… Public Companies Will Continue To Make Losses

As reported by Elena Ramón in the newspaper Expansión, Correos, Adif, Renfe and Paradores are extending their losses for another year. However, all of them assure they will increase revenues next year. The General State Budget for 2022 presented by the Government forecasts that Aena and Enaire will return to profit next year and join Puertos del Estado and Loterías, two entities which are resisting all setbacks. But Renfe, Adif,…

repsol petrochemical complex 1

Spanish economy 15th October 2021

Repsol To Expand Its Complex In Sines (Portugal) For 657M€, The Largest Industrial Investment In The Country In The Last Decade

Repsol plans to build two new plants for high value-added, 100% recyclable polymeric materials for the pharmaceutical, automotive and food industries.The project has been considered by the Portuguese government as an initiative of Potential National Interest (PIN), a qualification reserved for investments that make a significant contribution to the country’s economy, and will benefit from tax incentives for investments of up to 63 million euros.

Spain FMI

Spanish economy 13th October 2021

The IMF Revises Downwards Its Global Growth Forecast …And It Forecasts The Highest Unemployment Rate In Europe For Spain In 2021 (15.4%) And 2022 (14.8%)

In its October World Economic Outlook report, the International Monetary Fund (IMF) has lowered its growth estimate for the world economy to 5.9% from 6.0% in its July estimate. For 2022, however, the IMF has kept its global growth projection unchanged at 4.9%. In its report, the IMF notes that while growth in advanced economies is largely expected to return to the pre-pandemic trend in 2022, it expects emerging and…

debt ceiling word cloud1

Spanish economy 13th October 2021

Spain: Corporate And Household Debt Increased By 1.8% In The Last Year To 144.2% Of GDP

The financial wealth of Spanish households increased by 5.1% in the last year to stand at 214.1% of GDP. The Financial Accounts of the Spanish Economy, published by the Bank of Spain, show that consolidated corporate and household debt reached €1.673 billion in the second quarter of 2021 (144.2 % of GDP), 1.8 % above the €1.644 billion recorded a year earlier (140.5 % of GDP). The increase in the…