Articles
Mortgage prepayment: An alternative to saving
After one year of intense interest rate increases, coupled with very slow pass-through to deposit rates, households have moved decisively to reconfigure their savings, and also their borrowings. In this process of recomposition of household financial flows and the search for an alternative to deposits,…
EU fiscal rules reform and Spain’s fiscal position
Autores:
Lago Peñas, Santiago
After Spain’s public deficit initially soared to 10% of GDP and the public debt level rose to historical highs of 120% of GDP in the wake of the pandemic, reactivation of the economy and significant growth in tax revenue has since helped to underpin improvement…
Public revenue and expenditure forecasts for 2024 under a no policy change scenario
Autores:
Romero-Jordán, Desiderio
Growth in total state revenue is expected to slow in 2024, while growth in public expenditure is forecast to slow over the same time frame. Given that wage and pension increases will continue to put upward pressure on the deficit, achievement of the 3.0% of…
New tourist flows boost summer arrivals virtualy back to pre-pandemic levels
Autores:
Moral, María José
The high expectations for the recovery in international tourism appear to have been met this summer by comparison with 2019, particularly in terms of daily tourist expenditure. Going forward, expected increases in tourism from source markets with higher on average purchasing power is helping to…
Spain’s revised national accounting statistics: Positive and negative takeaways
Autores:
Fernández, María Jesús
September’s annual revision of Spain’s national accounts data for the years 2020 to 2022 resulted in an upward adjustment to the initially forecast GDP growth figures for 2021 and 2022, underpinned by substantial revisions to the components of GDP growth. While the revisions reveal a…