The Spanish Economy outlook

2011-04-13T12:16:00.001-07:00

Spain is a dynamic country which in the past decade has achieved sustained growth (3.4%) that is higher than the European Union average (2%).

What is more, inflation in Spain has slowly fallen since the end of the 1980s. Average inflation between 1987 and 1992 was 5.7%; it dropped below 5% for the first time in 1993, and it has been shrinking progressively since then. The year-on-year inflation rate for 2009 was 0.7%.

The Spanish economy structure is that of a developed country, with the services sector being the main contributor to GDP, followed by industry. These two sectors represent approximately 88% of Spain’s GDP with agriculture’s share today representing a 2.7% of GDP, and declining sharply as a result of the country’s economic growth.

Nevertheless, since September 2007 we have been immerse in an international crisis which has grown gradually worse and has spread around the world until becoming a international crisis. In this respect, the prudent budgetary policy followed in Spain in recent years (with a ratio of government debt to GDP that is 20 points below the European average) permits the pursuit of counter-cyclical and structural policies aimed at favouring an economic model based on growth offered by new sectors located higher up in the value chain, such as biotechnology, renewable energy or telecommunications and information technologies.

Rescate de Portugal empieza mañana

2011-04-13T12:01:00.001-07:00

Representantes del Banco Central Europeo (BCE), la Comisión Europea, y el Fondo Monetario Internacional (FMI) van a viajar mañana a Portugal para hablar sobre los detalles técnicos del rescate financiero del país atlántico. Portugal, que se resistió a un rescate durante meses, pidió ayuda financiera el ultima semana a la Unión Europea y al Fondo Monetario Internacional y se convirtió en el tercer país de la zona euro en hacerlo. El portavoz de la Comisión de UE, Cezary Lewanowicz aseguró "Expertos de las tres instituciones se reunirán con funcionarios de las autoridades portuguesas. Será sólo una reunión técnica",
"La semana siguiente se celebrará una reunión política de representantes de la Unión Europea con partidos portugueses", indicó. La Union Europea pide a Lisboa más reformas estructurales para reducir déficit a cambio de unos 81.000 millones.
Los responsables económicos europeos se mostraron abiertos a "ajustar" algunos puntos del programa con el futuro gobierno. El punto de partida del nuevo plan será el que José Sócrates presentó a la Unión Europea el 11 de marzo y el Parlamento portugués rechazó dos semanas después. Varios ministros de la zona euro exigieron que las medidas que se exija a Portugal a cambio de la ayuda vayan más allá que ese plan.

Directories

The Spanish Economy outlook

Rescate de Portugal empieza mañana