• Rajoy Announces Spain’s 2012 Deficit at 6.7% of GDP

    The Prime Minister, Mariano Rajoy, announced on Tuesday that Spain closed 2012 with a deficit of 6.7% of GDP, while in structural terms the deficit has lowered by 3.5 percentage points. The figure is lower than expected by the European …

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  • Government to Lower Taxes in 2014, Says Economy Minister

    The Spanish Economy Minister, Luis de Guindos, has reiterated the Government’s intention to cut taxes in 2014, combining efforts to reduce the deficit with measures to boost growth and get Spain out of recession. In an interview with Reuters earlier …

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  • Government Approves Measures to Aid Youth Employment

    The Spanish Government announced their approval last week of over 50 measures to support entrepreneurs and stimulate growth and the creation of employment. They have also modified legal fees and brought forward the entry into force of free legal aid …

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  • Mortgage Transactions Fell 32.7% in 2012

    According to data from the National Statistics Institute published yesterday, only 274,715 mortgage loans in total, were signed for home purchases during the past year, which is 32.7% fewer than in 2011. This represents the largest drop in mortgage transactions …

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  • Ryanair Cuts Spanish Routes in Protest at Increased Charges

    Carrying out the threat they made in November last year, Irish airline, Ryanair, has announced that, in direct response to the increases in airport charges implemented by Aena both in 2012 and 2013, they are to reduce the number of …

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  • Spain Received 2.7 Million Foreign Tourists in January

    According to the latest tourist border movements survey data released on Friday from Frontur, Spain received 2.7 million foreign tourists in January, which is 2.6% less than a year ago. Italy was the source market that most contributed to this …

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  • Fuel Prices Highest Since October

    Motor fuel prices have marked four consecutive weeks of increases, reaching their highest prices so far this year, with petrol hitting 1.5 euros per litre and diesel at 1.4 euros for the first time since October last year, according to …

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  • Foreign Social Security Contributors Down 2.76% in January

    According to the latest figures from the Ministry of Employment and Social Security, the Spanish Social Security System lost 45,495 foreign contributors in January, representing a decrease of 2.76% compared to December, and putting the total number of immigrants employed …

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  • Spain’s Trade Deficit Fell by 33.6% in 2012

    Despite the economic recession in Spain, the results posted by the Spanish trade balance are positive for 2012 as a whole because of the increased competitiveness of Spanish exports, mainly thanks to falling unit labour costs, an increasing number of …

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  • Sales of Homes Moderates Fall to 11.3% in 2012

    In 2012, despite the end of tax incentives for home purchases, 319,058 home sales transactions were carried out, 11.3% fewer than in 2011, and a more moderate decline than registered in the previous year, of 17.7%, and in 2008 and …

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  • Draghi Insists Eurozone will see Gradual Recovery During 2013

    The President of the European Central Bank, Mario Draghi, said on Monday, before the European Parliament, that economic weakness will prevail in the eurozone in early 2013, but that he foresees a gradual recovery throughout the year. During his speech, …

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  • 80,000 Spanish Emigrated for Work in 2012

    Between early 2008 and late 2012, a total of 390,206 Spanish have left Spain to work, or accompany a family member who has emigrated for work, according to a report by Swiss multinational human resource consulting company, Adecco, using data …

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  • Budget Airlines’ Passengers Down 4% in January

    According to data released on Monday by the Institute of Tourism Studies (IET), governed by the Ministry of Industry, Energy and Tourism, ‘low-cost’ airlines carried 1.6 million passengers in January, representing a fall of 4% over the same month last …

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  • More New Companies Created in 2012

    New business activity is beginning to recover slightly. According to data released on Monday by the National Statistics Institute, 87,066 new commercial companies were created in Spain last year, which is the highest figure recorded in the last four years, …

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  • Rents Increased by 0.2% in January

    The average price of renting a home in Spain rose by 0.2% during January, compared with the same month last year, according to data from the National Statistics Institute collected by Servimedia. The increase in rental prices lies at 2.5 …

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