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Spain to welcome back international cruises from June 7

Spain to welcome back international cruises from June 7

Published 29 May, 2021 07:51pm
  • Spain's maritime authorities approved the reopening because of falling COVID-19 incidence rates and an increase in vaccinations.
  • "Shipping companies will have to comply with measures established by the health ministry ... to guarantee total security, both for cruise passengers and for the cities where they land."
Spain ups 2021 deficit target, looks to avoid austerity in coming years

Spain ups 2021 deficit target, looks to avoid austerity in coming years

Published 30 Apr, 2021 06:03pm
  • Spain upped this year's budget deficit estimate from an initial 7.7%, but at 8.4% it would still be an improvement on 2020's 11-year high of 11%, after the economy shrank in the first quarter due to COVID-19 restrictions.
  • The gap should further narrow in 2022 to 5%, then 4% in 2023 and finally to 3.2% in 2024, she said, meaning that Spain does not plan to meet the 3% threshold earlier than 2025.
Spain hopes tourism can rebound as Germans return to Mallorca

Spain hopes tourism can rebound as Germans return to Mallorca

Published 22 Mar, 2021 08:09pm
  • International tourism to Spain plunged 80% to 19 million visitors last year - the lowest since 1969 - as coronavirus travel restrictions took their toll on the world's second most visited country.
  • "Maybe the ideal goal is ... to get half of the tourists we had in 2019," Tourism Minister Reyes Maroto told an event held by Europa Press news agency.
Spain approves 11bn-euro aid package for pandemic-hit companies

Spain approves 11bn-euro aid package for pandemic-hit companies

Published 12 Mar, 2021 06:35pm
  • The package will also include 3 billion euros to be implemented through voluntary debt restructurings of state-backed loans granted by banks to companies hit by the pandemic - many of them in the key tourism sector - and 1 billion euros will come in the form of capital injections.
  • The duration and the economic impact of the pandemic increase the risk of over-indebtedness ... By acting at the right moment we will avoid greater costs in the future.
Spanish house sales tumble in 2020 amid pandemic

Spanish house sales tumble in 2020 amid pandemic

Published 15 Feb, 2021 07:28pm
  • Once the confinement began winding down, house sales grew," said a spokeswoman for online property portal Fotocasa on Monday.
  • The Balearic and Canary Islands, two archipelagos favoured by tourists and international investors, respectively lost 20% and 17% of their house sales volume in 2020.
Spain's recovering COVID-19 patients must wait six months for vaccine

Spain's recovering COVID-19 patients must wait six months for vaccine

Published 10 Feb, 2021 05:55pm
  • The measure, which appears to be unique in Europe, will apply to the three vaccines currently being distributed in Spain and is provisional pending further research.
  • People older than 55 or those with health risks that make them more vulnerable to reinfection will be exempted from the delay.
Spain's 50-year bond closes with 65bn euro demand

Spain's 50-year bond closes with 65bn euro demand

Published 09 Feb, 2021 09:22pm
  • The bonds, which will mature in 2071, follow a successful 50-year bond sale from Belgium last week.
  • Spain marketed the new debt at 13 basis points over its outstanding July 2066 bonds, which closed Monday at a yield of 1.658%.
Spain to start reducing debt-to-GDP ratio in 2021

Spain to start reducing debt-to-GDP ratio in 2021

Published 14 Jan, 2021 07:00pm
  • Already in 2021 we expect that, thanks to the strong growth, we will be able to start reducing our deficit and our debt-to-GDP ratio.
  • The budget deficit is likely to have reached the equivalent of 11.3% of GDP in 2020, a government forecast.
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