Spain’s gross debt dropped by €2.41bn in October, standing at some €1.133trn – according to the Bank of Spain. This figure is down month-on-month, as in September Spain’s public debt was equivalent to 98.7% of GDP falling to a 98.06% equivalence in October – the Ministry of Economy, Industry and Competitiveness stated. The country was […]
The Bank of Spain has declined its growth forecasts for the Spanish economy in 2018 and 2019, from 2.5 to 2.4% and from 2.2 to 2.1% respectively following the unresolved political turmoil in Catalonia. The Spanish government has also predicted the Spanish GDP to fall by 0.1% in 2018, from 2.5 to 2.4%. Although the […]
Bank of Spain’s general director of Economics and Statistics Pablo Hernández de Cos said the institution expects the Catalan political turmoil to impact on Spanish GDP just in the fourth quarter of 2017, and to have disappeared in the first quarter of 2018. The positive forecast coincides with the most benign scenario the Bank had […]
Spanish savers continue to rely on deposits despite record low yields of these banking products. According to figures published by the Bank of Spain, the number of deposits in financial institutions reached €749.9bn in May. This represents an increase of 1.6% over the same month a year ago. The increase in deposits despite a low […]
Spain’s regulatory authorities have approved the deal that will lead to the purchase of Inversis Banco by Andbank, the local trade press has revealed. The Ministry of Economy and Finance, the Bank of Spain, the Comisión Nacional del Mercado de Valores (CNMV) and Institut Nacional Andorrà de Finances (INAF) have given the final go-ahead for […]
Spain has extended a ban on short-selling for Spanish securities from October 24 to October 31, to discourage investors trying to profit from the current crisis of the economy.
The market continues to hazard a guess when Spain will seek aid, said Dean Popplewell, chief currency analyst at foreign exchange broker Oanda.
Capital flight from Spanish banks continued in August, when deposits fell about 1% to €1.492tr, a fresh low since April 2008, according to data from the European Central Bank.
Spain is studying the possibility to grant to its central bank new powers to intervene more rapidly to rescue troubled lenders via the country’s bank rescue fund set up by the government.
Spain’s government is ready to proceed with the formal request to receive the first payment of the €100bn aid tranche granted to the country by the eurozone.
Capital flight from Spain accelerated in May and outflows reached €41.3bn during the month, according to data published today by the Bank of Spain.
Up to six of the 17 Spanish indebted autonomous regions could follow the steps of Valencia and request support from the central government of the country, which set up a €18bn fund to finance the regional deficit.