Spain approves mortgage relief scheme

Spain Approves Mortgage Relief Scheme

Measures approved by Cabinet include cutting borrowing costs over five years to offset higher interest rates. After weeks of talks between the government and banks, Spain's cabinet is expected to approve the measures on Tuesday, which include cutting interest rates over a five-year grace period. The measures make Spain one of the first euro zone countries to cushion the blow from rising mortgage...

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Spain rejects criticism of slow use of EU recovery funds

Companies want Madrid to spend €140bn on Covid repair projects faster Spain eased corporate concerns about managing the multi-billion-euro EU recovery fund, insisting it had reached "cruising speed" in developing investment plans and would meet stringent auditing standards to secure its next cash supply. The country was the first to receive payments from the EU's Pandemic Recovery Fund last year...

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Average electricity prices in Spain are falling

Average electricity prices in Spain dropped by 20% on Sunday, November 6. Average electricity prices for customers with regulated tariffs associated with the Spanish wholesale market will drop by a factor of 20, Specifically, it is 112.75 EUR/MWh). According to preliminary figures from the Iberian Energy Market Operator (OMIE), the average electricity price in the wholesale market, the so-called...

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Growing charges push Spain’s owners to the brink

Will increase via way of means of the eurozone’s primary bankers are exacerbating the country’s price of dwelling crisis.Millions throughout the eurozone are reckoning a chain of competitive charge rises via way of means of the European Central Bank in reaction to rampant inflation. For households, the effect of financial tightening on their mortgages comes as power and meals expenses eat an...

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Spain’s budget for 2023 brings good news for pensioners

All historical records for budget spending in Spain will be broken next year. The proposed General State Budgets of 2023 were adopted by the Spanish government on Tuesday, October 4. This plan is the most ambitious in Spanish history and includes 266 billion euros in social expenditure alone as well as many initiatives to lessen the effects of the continuing financial crisis. After the meeting, Mara...

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In the first half of 2022, eleven Spanish banks lost money.

According to individual statistics from the Bank of Spain, there were Eleven banks that lost money between January and June 2022 in Spain, which is 2 fewer than during the same time period last year. The Bank of Spain announced that eleven banks lost money in the first half of 2022; seven of these institutions—JPMorgan Chase Bank, Banco Europeo de Finanzas, Targobank, WiZink, Evo Banco, Credit Suisse...


Qatar will increase its investment in Spain by $4.9 billion

QATAR has agreed to contribute 4.7 billion euros ($4.9 billion) in Spain as part of the European Union's pandemic recovery funding. BARCELONA - Qatar promised to invest 4.7 billion euros ($4.9 billion) in Spain, as the European country begins an economic reform with its share of European Union pandemic recovery cash. The investments' specifics have not been disclosed, but the Spanish government has...

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Mercadona Contributes €1.5 Million to Assist Ukraine Refugees in Spain and Portugal

MERCADONA, Spain's largest grocery chain, has announced a €1.5 million donation to Ukraine refugees in Spain and Portugal to assist them in their hour of need. The corporation stated that it wanted to express its sympathy and support for Ukrainians affected by the conflict. It claims it will do it in the only manner it knows how: by assisting with the expense of necessities. Refugees who arrive in...

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Tourist expenditure in Spain by Britons, Germans, and the French exceeds pre-pandemic levels

IN March, the majority of visitors to Spain were British, followed by Germans and French. In March alone, before the Easter vacation and long before the summer season begins, 4 million visitors visited Spain. This figure is just 29% fewer than the same period in 2019 before the epidemic started. Despite the reduced numbers, they spent more than they did two years ago: each international visitor spent...

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Spain lowers its growth prediction for 2022 due to the conflict in Ukraine

SPAIN cut its economic growth prediction for 2022 on Friday, owing mostly to the effects of Russia's invasion of Ukraine, which has fueled inflation and harmed consumer demand. According to the economics ministry, the eurozone's fourth-largest economy's GDP is now likely to grow by 4.3 percent rather than the 7.0 percent earlier forecast. "The attack against Ukraine has significant economic and...

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