spanish economy Archives

spanish economy

In Spain 19th November 2020

Next Generation EU: A Golden Opportunity For The Spanish Economy

Javier García Arenas (Caixabank Research) | The NGEU European Recovery Fund has a significant budget and could have a major macroeconomic impact on the Spanish economy. The overview of the Recovery Plan presented by Spain reflects the country’s willingness to accelerate investment and outlines a number of relevant areas of action. The specific projects involved and the governance mechanisms for their selection and monitoring are not yet known.

In Spain 25th October 2020

Spain Invests €4 Mn To Promote Spanish Food On The External Market

The Spain Food Nation campaign, coordinated by ICEX, will provide market agents with all the necessary information to promote the international marketing of Spanish food as well as to help the sectors most affected by the health crisis and the effects of US tariffs. It will take place in some 20 countries, and will present Spain as a country that supplies safe food to Europe and the world.

In Spain 14th September 2020

Brief Chronicle Of Spain: A Bad Summer. A Worse Autumn?

Joan Tapia (Barcelona) | The figures of the Spanish economy were terrible in the second quarter. GDP plummeted by an outrageous 18.5% compared to the previous quarter, while the GDP of the euro area, despite suffering the biggest fall since reliable statistics have been available, fell considerably less, by 11.8%. And the loss of jobs in the same period was 7.5% in Spain compared to 2.9% in Europe.

In Spain 8th September 2020

Spain’s Full Recovery Will Come In 2023

Intermoney | There are important reasons for maintaining a prudent attitude with regard to the Spanish economy, situating its full recovery in the year 2023. This would mean that we would lose more than a decade of the fledgling 21st century. On the other hand, there are also reasons to hope the recovery will eventually take shape and not be too far off. These include the encouraging development of the COVID-19 vaccines, the decisive response from the ECB and the EU, and a lesser impact of the crisis than feared on large European partners and customers.

In Spain 30th July 2020

Spain Needs A Big Modernisation Operation To Gain Productivity

Fernando G. Urbaneja | Before the pandemic, the Spanish economy showed signs of weakness and exhaustion, which are now considered as pronounced. Spain needs a major modernisation operation to gain productivity, to generate stable employment and add value. And this is not being talked about much. Many decrees but no script, no basic project, no fine print. European funds are important, but knowing how to avoid wasting them, is even more important.

In Spain 29th May 2020

The Spanish Economy Has Entered Deflation After The Health Crisis

Link Securities | According to preliminary data from the Spanish National Institute of Statistics (INE), the Consumer Price Index (CPI) fell to -1% year-on-year in May (-0.7% in April). The drop reflected the decline in fuel and oil prices, while food prices continued to rise. May inflation has not seen a decline to -1% since 2016. We do not rule out that the entire Eurozone could end up heading into deflation over the coming months, at least those economies most penalized by the pandemic.

In Spain 25th May 2020

Spain’s Financing Needs Rise To €130 Bn In 2020; Well Off The €32.5 Bn Initially Planned For This Year

Intermoney | What is clear is that the finances of countries like Spain are only sustainable thanks to the ECB’s very important support. And also thanks to the EU’s action which is much better than in the previous crisis. If the German and French Recovery Plan, based on subsidies, is successful, Spain’s need for financing will be lower; in other words, Community transfers would help keep net financing well below the 130 billion euros target.

The challenge for Spanish banks in 2019: improve profit margins, still at historic lows

In Spain 20th May 2020

Public Debt Will Be A Headache For The Spanish Economy: It Is Already Close To 100%

According to data released yesterday by the Bank of Spain, overall government debt reached 1.224, 243 trillion euros in March. It increased by 22.473 billion euros (+1.9%) from February due to the Covid-19 crisis. So public debt is now at an all-time high and equivalent to 98.3% of 2019 GDP. All organisations highlight in their forecasts that public debt will rise above 100% and set new historical records.

In Spain 4th May 2020

Housing Prices in Spain Could Fall 6% In 2020

COVID-19 will result in a slowdown in housing transactions of -35% – up to 326.000 transactions in 2020, returning to minimal levels (2012 to 2014). Home buying decisions will be postponed by 6-12 months, and some of the demand will disappear for longer, producing a temporary imbalance between supply and demand.

In Spain 29th April 2020

Spain’s Hotel And Restaurant Sector’s GDP Will Fall By Up To 20%

Funcas | The sectors most directly affected by the shutdown – retail, hotel accommodation, restaurants, cultural and sporting activities and personal services – account for 15% of GDP alone. And they also have a ‘snowball effect’ on the rest of the sectors equivalent to 6% of GDP, according to our forecasts’ update for 2020 and 2021.

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