Archives for April 2012

April 30th, 2012

Prices have increased 45% in Spain since the entry into force of the euro in financial markets in 1999, which has generated a great loss of competitiveness compared to other European countries, according to the CESifo 2012 report submitted by the BBVA Foundation. In particular, the study highlights that there are ...

Continue reading Prices Have Risen 45% in Spain Since Entry to Euro

April 30th, 2012

The debt crisis, sharp Government cutbacks in order to reach the 2012 deficit limit imposed by the European Union, and the entry into the second recession in three years, have caused the lowering of the growth forecast for Spain, published in a report put together by a panel of experts ...

Continue reading Experts Lower Forecasts for Spain

April 27th, 2012

The price of petrol has dropped 1.6% this week and recorded its first decline after fourteen consecutive weeks of increases, nine of which were recorded as historic highs, according to the European Union Oil Bulletin. Specifically, a litre of petrol stood at 1.473 euros this week, but this is still 13% ...

Continue reading Price of Petrol Falls 1.6% After 14 Weeks of Increases

April 27th, 2012

Spanish house prices are continuing to fall, according to the recent statistics published by Tinsa. Their Spanish Real Estate Market Index shows a reduction of 9.2% during the first quarter of 2012 over the same period of 2011. Tinsa’s index reflects the change in price per square metre of real estate ...

Continue reading Tinsa Adds New Geographical Breakdowns to their Report

April 26th, 2012

In the first three months of the year Spain received a total of 9.18 million international tourists, representing a 2.6% increase over the same period in 2011, according to the Survey of Tourist Border Movements, Frontur, which has been released by the Spanish Ministry of Industry, Energy and Tourism. The Department, ...

Continue reading Increase in Number of Foreign Tourists Visiting Spain

April 26th, 2012

The number of home mortgages fell 47.1% in February over the same month last year. This is the biggest drop since the statistics published in 2004. With 26,415 credit arrangements, this indicator marks 22 consecutive months of decline year-on-year, according to data released on Tuesday from the National Statistics Institute. The ...

Continue reading Mortgages Register Biggest Drop Since Start of Crisis

April 25th, 2012

The Council of Ministers approved, by means of a Royal Decree Law, a raft of urgent measures to guarantee the sustainability of the National Health System and improve the quality and security of its services. The measures will result in savings exceeding 7 billion euros in healthcare expenditure. The Minister for ...

Continue reading Spanish Government Approves Measures to Safeguard Healthcare System

April 25th, 2012

Spanish hotels recorded 17.4 million overnight stays in March this year, which represented a decrease of 3.5% over the same month of 2011, despite the prices falling by 0.3%, according to figures released by the National Statistics Institute on Monday. The decline in overnight stays in March was due both to ...

Continue reading Hotel Stays Down 3.5% in March

April 24th, 2012

Advanced economies should return to "normal growth in two or three years", so they must focus on "structural and sustainable solutions", the president of the International Monetary and Financial Committee of the IMF, Tharman Shanmugaratnam, declared in a press conference on Saturday. "We need medium-term fiscal consolidation, both in America and ...

Continue reading IMF Expects Return to ‘Normal’ Growth in Two or Three Years

April 24th, 2012

The EU statistics office, Eurostat, certified on Monday without any reservation that the public deficit in Spain last year rose, as announced by the Government, to 8.5% of GDP, making it the third highest in the European Union, surpassed only by Ireland (13.1%) and Greece (9.1%). Meanwhile, the debt level in ...

Continue reading Brussels Confirms Spain’s Budget Deficit at 8.5% for 2011

April 23rd, 2012

The Consumer Price Index (CPI) rose by 0.7% in March over the previous month, the same as twelve months ago, while the year-on-year rate fell 0.1% to 1.9%. Following this result, the year-on-year rate posted a half-point drop in the first quarter of this year placing it at half the ...

Continue reading CPI Drops to 1.9% – Lowest Level Since August 2010

April 23rd, 2012

The Council of Ministers has analysed the Draft Law to enhance the fight against fraud to complement the Royal Decree Law on tax measures approved on 30th March. The Vice-President of the Government, Soraya Sáenz de Santamaría, explained that this law establishes additional measures to those already adopted to combat the ...

Continue reading Spanish Government Presents Anti-Fraud Plan

April 20th, 2012

The Spanish Government’s Council of Ministers has approved the creation of an Expert Committee to reform the Spanish university system which, said the Minister for Education, Culture and Sport, "is an absolute priority". José Ignacio Wert explained that in the last few years university education has expanded greatly in Spain. "We ...

Continue reading Spanish University System Faces Reform

April 20th, 2012

While speaking in Warsaw during a press conference with the Polish Prime Minister, Donald Tusk, the President of the Government, Mariano Rajoy, stressed that this is an extraordinarily important time for Europe and that the effects of the economic crisis are demanding joint efforts to regain confidence and encourage growth ...

Continue reading Mariano Rajoy Insists There Will be No Bailout for Spain

April 19th, 2012

The number of passengers opting to travel by plane within Spain in February fell by 12.2% compared with the same month of 2011, while the number opting to travel by train grew by 2.5%, according to the latest figures from the National Statistics Institute. Bus journeys also experienced an increase ...

Continue reading Spain Sees Rise in Rail Travel