In Spain

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The Government maintains the Basque quota (6.24%) and secures the PNV’s support for the budget

Although 41 years have already passed since the rate at which the Basque quota to the State was first agreed, there will be no changes for the next five-year period (22-27). The 6.24%, the percentage of Basque funding for the common expenses borne by the central Administration -defence, Royal House, embassies, etc.- is going to be maintained for another five years.This has been agreed in Madrid by the central and…


CHILDREN

Births in Spain fall to 337,380 in 2021, the lowest figure in 80 years

The number of births fell by 1.2% in Spain in 2021 to 337,380, 3,935 fewer than in 2020, according to data from the National Statistics Institute (INE). It specifies that this is a new low since the beginning of the historical series, in 1941, 81 years ago. In recent years there has been a downward trend in the number of births. Since 2008, when the figure reached 519,779, the figure…


NATO

The NATO Summit: Spain Leads The Way In Organising Congresses

Fernando González Urbaneja | The NATO summit in Madrid has been a success in all respects, except for the recalcitrant naysayers, who have hardly been noticed. The rest of those involved leave the summit with the feeling of a job well done. In terms of content, in terms of the relevant “strategic definition” for the future of the organisation and its enlargement, the results are in line with the best…


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Spain: More Than 700,000 SMEs Have Liquidity Problems

Pavel Gómez del Castillo (Crédito y Caución) | Some 26% of Spanish small and medium-sized enterprises are experiencing liquidity problems. That is what emerges from the September barometer of the General Council of Associations of Administrative Managers of Spain. According to the study, 27% of SMEs admit they have clients in arrears, 13% are not paying their creditors and 10% have defaulted with their financial institutions.Barely 23% of SMEs have…


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How To Bring Spain’s Economy Out Of Its Coma

Miguel Navascués | To build a public housing stock to house those who are now forbidden to be evicted? Or to undertake a plan such as the one proposed by the chief economist of Arcano, supported at the time by the president of Santander? The traction effect of the construction sector is proven, and is indisputable. However, according to Julián Núñez, president of the construction employers’ association, SEOPAN, the data and forecasts are not encouraging.


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Spain, Among The Countries That Are Far From Having Mobilized Sufficient Fiscal Resources

Yves Bonzon (Julius Baer) | On the fiscal side all countries might provide support measures that are quantitatively and qualitatively strong enough to ensure recovery when the containment ends. The way the required transfers from governments to their private sectors are financed, in essence the chosen mix of tax increases, borrowing from private savings and monetisation, will play a determining role on the recovery capacity of different countries and regions.


Spain ratings

S&P And Moody’s Confirm Their Sovereign Ratings For Spain At A (Stable Outlook) And Baa1, Respectively

S&P has revised Spain 2020 GDP downwards from +1.5% to -1.8%, rebounding +3.1% in 2021, +1.4% in 2022 and +1.5% in 2023. Meanwhile, estimates for the unemployment rate are 14.6% in 2020 compared to 14.1% in 2019, 15.6% in 2021, 15.2% in 2022 and 15.0% in 2023. For its part, Moody’s does not expand on this information; it merely confirms its ratings and outlook.


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The IMF Estimates Spain Growth Of Below 1.6% In 2020 Due To Coronavirus

The International Monetary Fund forecast that Spain’s economy will deepen its expected slowdown in 2020, with growth of less than the 1.6% estimated in January. This is due to the impact of the coronavirus outbreak, and especially to the drop in tourism demand. “Clearly the economy is already affected, the extent of this impact depends on the duration of the outbreak,” Andrea Schaechter, the IMF’s chief of mission, explained in a conference call.


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The EC Asks Spain Government For Prudence With Labour Reform Review

The European Commission (EC) urged the Spanish government to “carefully” evaluate the potential impact of any modifications to the 2012 labour reform and to “preserve “the most positive aspects of it, which “supported solid job creation” during the recovery phase. Citing a recent study from the International Monetary Fund (IMF), it states that “the labour reforms adopted in 2012-13 in response to the crisis have played an important role in promoting a rich recovery in employment which began in 2014.”


Pedro Sánchez falls short of majority but will likely prevail tuesday

Spain: deceleration slowing down

Joan Tapia | The latest data indicate that the economic slowdown in Spain is showing some signs of reversing. That is, the slowdown is slowing down and that the economic situation in the coming months may be somewhat better than expected by some of the most pessimistic analysts. The misfortune is that this slight recovery of economic optimism has no correspondence in the political field, as the result of the 10-N elections and the subsequent movements of the parties indicate a very difficult governance.