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Inflation Rate Falls to 2.4 Percent in Spain

Spain's year-on-year inflation rate fell by four-tenths of a percent to 2.4 percent in March, the National Statistics Institute, or INE, said Wednesday in its preliminary consumer price index for the month. continue reading »

Spain Posts $93 Billion Budget Deficit in 2012

Spain posted a budget deficit of 6.98 percent of the gross domestic product last year and not the 6.74 percent initially reported by the government, based on new Eurostat accounting standards for tax refunds, Secretary of State for the Budget Marta Fernandez Curras said Wednesday. continue reading »

Economy Minister says Spain to See Renewed Investor Confidence in 2013

Foreign investors will regain their confidence in Spain this year, while the country's nationalized banks will start repaying the funds they received, Spanish Economy Minister Luis de Guindos said in an interview with Efe. continue reading »

Spain Trims its Budget Deficit by $28.1 Billion

Spain's budget deficit came in below 7 percent of the gross domestic product last year, while the target agreed to with the European Commission was 6.3 percent, Prime Minister Mariano Rajoy said Wednesday. continue reading »

Bill to Stop Evictions Gets Top Priority in Spain

Spain's governing conservative Popular Party and main opposition Socialists agreed Wednesday to expedite a citizens' bill that would halt evictions of homeowners who are behind on their mortgage payments. continue reading »

Spain’s Iberia Airlines to Cut Nearly 4,000 Jobs, Loses $1.14 Billion Over 4 Years

Spain's Iberia airlines said Tuesday it planned to eliminate 3,807 jobs, or 19 percent of its workforce, and urged labor unions to call off planned strikes. continue reading »

Spain’s Housing Market Continues Its Slide, Home Sale Fell 11.3% in 2012

Home sales in Spain fell 11.3 percent last year after a 17.7 percent decline in 2011, the National Statistics Institute, or INE, said Monday. continue reading »

PM Rajoy Expresses Optimism About Spanish Economy During Trip to Chile

Spanish Prime Minister Mariano Rajoy was warmly praised here Friday by Chilean President Sebastian PiƱera in a visit that gave the Spaniard the chance to offer a message of optimism about his nation's economy. continue reading »

Spain’s Economy Contract 1.3%, Unemployment Hovers Around 26%

The Spanish economy contracted 1.3 percent in 2012, with the recession intensifying in the last quarter of the year and the gross domestic product falling 0.60 percent, compared to the previous quarter, while the unemployment rate neared 26 percent, the Bank of Spain said Wednesday. continue reading »

Spain’s Largest Banks Hit Record High for Bad Loans

The proportion of non-performing loans held by Spain's large banks, regional savings banks, or "cajas," and other lending institutions hit a new record high of 11.38 percent in November. continue reading »

Number of Foreigners in Spain Drops for First Time in 15 Years

The number of foreigners registered in Spain at the beginning of January 2012 fell for the first time in the last 15 years, official figures released Wednesday show. continue reading »

Prime Minister Rajoy: Spain Will Start to See a Recovery this Year

Prime Minister Mariano Rajoy said in an interview with the Financial Times that the economic recovery will be felt in Spain this year, when the reforms implemented by his government will start "to bear fruit." continue reading »

Spanish Retailer Mango Closing Its Last Store in Brazil

The closure of the last store operated by the Spanish fashion firm Mango in Brazil, scheduled for next week, is a "fact," continue reading »

Spanish Firms Less Innovative than European Counterparts

Within the European Union, Spanish firms are among the least involved in innovation cooperation with institutions or companies based elsewhere in the region, the EU's statistics agency said Friday. continue reading »

King Juan Carlos Urges Spaniards to Regain Confidence

Spain's King Juan Carlos expressed his concern about the lack of jobs in his country and the fact that many youths have to look for work abroad, but expressed confidence that Spaniards can regain their confidence and overcome the crisis. continue reading »

2013 Will be “Tough Year” for Spain, Says PM

Prime Minister Mariano Rajoy said Friday that economically ailing Spain has "a very tough year" ahead of it in 2013. continue reading »

Exports of Spanish Arms and Defense Sector Drop 44 Percent in Spain

Spain's arms exports fell 43.7 percent in the first half of the year compared with the same period in 2011, the Industry Ministry said in a report released Wednesday. continue reading »

Spain’s Luxury Goods and Services Sector Up 15 Percent from 2011

Spanish firms offering luxury goods and services will end the year with total sales of 4.79 billion euros ($6.3 billion), up 15 percent over 2011. continue reading »

Christmas Lottery Distributes $3.3 Billion in Spain

The more than 2.5 billion euros (some $3.3 billion) distributed Saturday by Spain's Christmas lottery, the most anticipated and popular of the year, provided a breathing space for many Spaniards and immigrants, many of them jobless, amid the economic crisis the country is going through. continue reading »

Spanish PM Says Economy Will Grow in 2014

Prime Minister Mariano Rajoy said here Saturday during an unannounced trip to Afghanistan that Spain's economy will improve next year and start growing again in 2014. continue reading »