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Spanish economy

oil spain1

Spanish economy 27th April 2020

Historic Drop In The Oil Price: How Will It Affect The Spanish Economy?

Caixabank Research | A fall in the price of oil provides a boost to the economy of countries that are net importers of crude oil, as is the case for Spain. Cheaper oil equates to an increase in the real disposable income of households, such that it also supports aggregate consumption. However, the health crisis that has gripped us following the COVID-19 outbreak will result in this boost derived from a lower oil price not being reflected in the economy, at least for the time being.

bank spain guapisimo

Spanish economy 21st April 2020

The Bank Of Spain’s Scenarios Reflect A Drop Of 6.6%-13.6% In 2020 GDP Depending On Length Of Confinement

Intermoney | The Bank of Spain has proposed different macroeconomic scenarios for Spain deriving from COVID-19. From the supply side perspective, the institution offers three scenarios that would lead to severe or very severe falls in GDP in 2020: scenario 1, -6.6% (8-week lockdown and almost complete normalisation after lockdown), scenario 2, -8.7% (8-week lockdown and almost complete normalisation in Q4’20 ) and scenario 3, -13.6% (12-week lockdown and incomplete normalisation by year-end, particularly in the segments of the economy linked to the hotel and leisure industry).

The agreement on the minimum wage and the relative success of the trip to Catalonia encourages the new government

Spanish economy 20th April 2020

Galapagar*? … We Have A Problem

A.J.A. | It is a common misunderstanding, typical of young people, to think that the greatness of democracy lies in the fact that we can choose who governs us. No. Its greatness lies in the fact that it gives us the chance to boot out the incompetent Government that has governed us for the last four years. Be it a PP Government, be it a PSOE Government. That’s what people in Venezuela, Cuba, or in China can’t do.

family deposits TC

Spanish economy 20th April 2020

Private Debt, At A Minimum Since 2003, May Be A Key Tool For Spain In The Face Of The Coronavirus Crisis

Bankia Estudios | One of the Spanish economy’s strengths with which to face the devastating crisis unleashed by Covid-19, compared to the previous financial crisis of 2008-13, is the private sector’s healthier starting position. In this respect, families and companies’ consolidated debt stood at 129.7% of GDP at end-2019, the lowest figure in 16 years and 63.5 percentage points below the 2007 level. Corporate debt also falls to a low of 16 years in GDP terms (72.8% vs the previous 75.1%).

IPC inflation spain

Spanish economy 17th April 2020

Spain’s Year-on-Year Rate Of Inflation Falls To 0% Due To Energy Product

The yearly rate of inflation dropped by seven-tenths of a percentage point in March to 0%, after a monthly decline of 0.4%. The result was very close to expectations, and was mainly thanks to the fall in energy products due to the oil price collapse. The main deviation occurred in unprocessed foods’ prices which were inflated due to the increase in fresh fish, vegetables and pulses.

Time for Spain to get a foreign policy

Spanish economy 17th April 2020

Marginal Interest On Some Spanish Benchmark Bonds Doubles

On Thursday, the Treasury raised €6.535,6 billion in a new auction of long-term bonds, exceeding the €6.5 billion top of the range. Total demand was EUR 12.407,77 million, which is 1.9 times the amount finally awarded. However, costs have risen once again and even doubled the yield on the bonds.

Inditex crece compressor 1

Spanish economy 14th April 2020

Inditex Postpones Temporary Layoffs; Will Continue To Support All Staff Remuneration With Its Own Resources

Inditex has decided to postpone its temporary layoffs’ plan, which was expected to start on 15 April. For the time being, it will continue paying the salaries of its workers in Spain. After the state of alarm was decreed on 14 March and just after presenting its results, Inditex already flagged that it was going to cover the cost of all its staff in Spain. At the same time, it conditioned the temporary layoffs for its 25,000 store employees to the extension of the decree beyond 15 April, a measure which is now ruled out.

OFICINA Empleo Spain

Spanish economy 2nd April 2020

Coronavirus Shatters Spain’s All-Time Unemployment Rise Record: 302,365 People Lost Their Jobs in March

In the face of the economic slowdown due to the restrictive measures in place to stop the spread of Covid-19, Spanish companies laid off or terminated contracts for over 302,365 workers in March, which is more than 50% higher than the negative milestone of January 2009 (at the start of the last economic crisis) when there were almost 199,000 unemployed.This brought the total number of unemployed to 3.548.312. Finally, Spain’s labour market have lost 833,979 members up to March 31.

5g

Spanish economy 1st April 2020

Spanish Government Suspends Auction Of Spectrum For 5G Network Deployment

The Ministry of Economic Affairs and Digital Transformation has informed the European Commission that it has decided to postpone the date for the release of the 700 MHz band, a process known as the Second Digital Dividend. This was scheduled to be completed by end-June, along with the auction of that spectrum amongst operators for the deployment of 5G. The postponement is due to the exceptional situation resulting from the Covid-19 pandemic.

gobierno tonto y malo

Spanish economy 30th March 2020

Spain: The Government Makes Sure Recession Turns Into Depression

A.J.A | Last Friday 27, after a cabinet meeting, the Spanish government issued a decree prohibiting companies from firing employees by “taking advantage of the coronavirus” (sic). with absurdities such as this one, it ensures that the recovery will not be in a V shape, or even in a U shape, but that the country will get into a prolonged crisis in L.