The Governor of the Bank of Spain, Pablo Hernandez de Cos, has openly questioned the draft Government Budgets for 2021 for its lack of realism and for including measures that it considers erroneous, such as the generalized increase in salary for public employees in the midst of the crisis. The governor, who is himself a […]
Tag: Bank of Spain
The Government will allocate 2,230 million to commerce, tourism and SMEs, 150% more
Government will allocate 2,230 million euros in 2021 to Trade, Tourism and SME policies of euros. This allocation represents an increase of 150% with respect to the previous accounts, according to the draft of the General State Budgets for 2021 of the Executive. Of the total allocated in 2021 for these policies, 1,627 million belong […]
The governor of the Bank of Spain foresees a decade of “absolutely inevitable” adjustment measures
The Governor of the Bank of Spain, Pablo Hernández de Cos, foresees “a decade” of adjustment measures in Spain to face the structural deficit dragged down and multiplied by the pandemic. During his speech at the Expansión International Economic Forum, Hernández de Cos has identified the sustainability of public accounts as one of the structural […]
González does not understand the state of alarm approved by Pedro Sánchez and believes that the Budgets are born out of date
 The ex-president Felipe González criticized in the I International Expansion Forum the management of the pandemic by the central government and the autonomous communities. With measured words and courage not to offend the rulers –“I would not like to be in the engine room now“-, the former socialist leader stated that he does not […]
The bill of the coronavirus crisis: the debt increases 450 million a day
Public debt continues to rebound at a dizzying rate as a direct consequence of the coronavirus crisis and the measures that the Government has deployed to cope with the economic recession. So much so that the set of liabilities of the Public Administrations closed August at 1.29 trillion and has already rebounded to more […]
Madrid, Catalonia and the islands concentrated 60% of the tourist fall in the last quarter
The big capitals and the Canary Islands and the Balearic Islands they will concentrate the tourist fall in the next quarter, the period remaining to close a year of historic declines for the sector. These are not the busiest months, but traditionally there is a lot of business activity and, moreover, the Canary Islands […]
Bankinter is already suffering an increase in non-performing loans in companies and warns: “There are complicated years ahead”
The coronavirus is beginning to affect the balance of the country’s large banks. The lengthening of the economic crisis and the current level of uncertainty led to first increases in bad debts in loans to companies in the third quarter of the year, according to Bankinter’s breakdown in the financial accounts presented to the […]
What exactly is the IRPH index and how can I know if my mortgage has it
The IRPH is the acronym for Index of Reference of Mortgage Loans. It is an indicator of interest rates on mortgage loans and is prepared from the Bank of Spain. This has been operating since 1994 and is officially called Average rate of mortgage loans over three years for the purchase of free housing. […]
The tourist hole worsens: 106,000 million will be lost and Spain falls back to activity levels of the 90s
The tourist hole will exceed 100,000 million euros in 2020, 7,500 million more than expected in August, and it will mean that tourism activity this year will have fallen to levels of 25 years ago. The pandemic has brought Spain back to a 1995 scenario. Forecasts for the sector worsen with each passing quarter […]
Hernández de Cos calls for an “ambitious agenda” of reforms in the face of structural damage to the crisis
The governor of the Bank of Spain, Pablo Hernández de Cos, warned on Tuesday about the consequences that the regrowns could have on the economy and has encouraged structural reforms to reduce the impact on businesses and households. “It is also clear that the degree of persistence of this disturbance, which in principle should be […]
