Spanish economy

spain savings rate

Spain Receives The First €9 Billion From Europe

Yesterday, the European Commission transferred to Spain the first €9 billion euros of the €69.5 billion it has been allocated from the funds of the Recovery and Resilience Mechanism, within the framework of the Next Generation programme. This amount represents 13% of the total. It is a long-awaited injection, second only to the amount received by Italy, which comes almost a year and a half after the declaration of the…


Nadia proud spain

Spanish Public Debt At An All-Time High: 122% Of GDP

The debt of general government as a whole reached 1.42 trillion euros in June, a new all-time high, after growing by almost 1.7% in monthly terms. It is the second consecutive month in which it has risen according to data published on Tuesday by the Bank of Spain. Using nominal GDP for the last four quarters, the debt-to-GDP ratio stood at 122.1% in the second quarter of 2021, above the…


geopolitics

Spain: Corporate Insolvencies Up 69% So Far This Year

Crédito y Caución | According to Iberinform’s monitoring of insolvency proceedings published in the BOE, in the first seven months of 2021 the Spanish economy recorded a 69% increase in corporate insolvencies, 3,838 proceedings compared to 2,270 in the first seven months of 2020. Data for the month of July (657 proceedings) show growth of 30% when compared to the data recorded a year ago. The confinements and moratoriums decreed…


TecnicasReunidas

Técnicas Reunidas Requests A Loan Of €290 Million From The State

Bankinter analysts explain that Técnicas Reunidas (TRE) , the engineering and construction company, has had to face a particularly difficult year due to the pandemic, with delays in the execution of contracts. This has led to a sharp fall in revenues and net cash and a worsening of its margins, forcing it to resort to a participatory loan of 290 million euros from SEPI (Sociedad Estatal de Participaciones Industriales). The…


Ibedrola Australia

Iberdrola, Siemens Gamesa, ACS and Ferrovial, Among The Most Benefited By The US Infrastructure Plan

On Tuesday, the U.S. Senate approved the expected infrastructure plan, which must now pass through the House of Representatives and finally be signed by Biden. In the end, the amount will be less than initially expected and will reach 1.2 trillion dollars compared to the initial 2.25 trillion dollars. The $1.2 trillion includes $550 billion in new federal spending on roads, bridges and transportation to be executed over the next…


spain brand

What ‘Soft Power’ Is And Why Spain Is A Powerhouse

The Conversation | Spain scores very well in some of the parameters that generate soft power. We have a gastronomy, a cultural heritage, writers, filmmakers and sportsmen of the highest level. All this creates a kind of affection and attraction towards Spain among the citizens of other countries, which results in economic benefits, either through tourism or through the consumption of products made in Spain. In other words, a country’s soft power is its capacity to weave alliances and influence in the international sphere through the interest that the cultural, political or economic attributes of its society arouse in the citizens of other nations.



Talgo Vittal One

‘Talgo Vittal-One’ , A Spanish Train Powered By Hydrogen To Reduce Carbon Footprint

Portocolom AV | Spanish railway company Talgo is working on an innovative hydrogen train with the aim of replacing diesel-powered locomotives by 2023. With these new engines the company would replace diesel-powered ones in commuter trains and medium-distance trains, and thus take a step further on the way to climate neutrality, which Spain aims to achieve in 2050. The railway company is developing at its Rivabellosa plant in Alava the first units that will be powered by green hydrogen fuel cells supplied by Repsol. The two companies have recently signed an alliance to develop machines powered by this energy.


stellantis

Stellantis, The Only Manufacturer Producing 100% Electric Cars At All Three Spanish Plants

ICEX- Invest in Spain | Stellantis is the only manufacturer that produces 100% electric cars at each of its three Spanish plants: Peugeot e-2008 (Vigo), Citroën ë-C4 (Madrid) and Opel Corsa-e (Zaragoza). With more than six decades of experience in the production of commercial vehicles and a pioneer in the field of electric mobility, the Italian-French-United States international automotive group has now launched a new generation of 100% electric commercial and multipurpose vehicles, produced in Vigo.


Spain exports compensate for political uncertainty

The Competitiveness Of The Spanish Foreign Sector: Where It Is Now And Where It Is Heading

Luís Pinheiro de Matos (CaixaBank Research | The pandemic has been felt in all sectors of the economy, particularly in tourism services, a key sector for the Spanish economy. Nevertheless, the foreign sector held up very well in the face of an unprecedented shock, and despite not having this traditional contribution the current account managed to maintain a surplus. The starting point for rebuilding a path of sustainable growth is better than one might have expected. Focusing on the balance of goods in 2020, a year with a historic fall of 10.8% of GDP, Spanish exports of non-energy goods fell by 8.3%, but managed to remain above 250 billion euros (around 22% of GDP) for the fourth consecutive year.