Other News

Number of self-employed workers in Spain grows for fourth consecutive month to a total of 3,064,494 in May

In May, a total of 3,064,494 people were registered under the Special Regime for Self-Employed Workers of the Spanish Social Security System. This is an increase of 7,221 on the figure recorded in April and is the fourth consecutive month in which the number of people registered under this Special Regime of the Social Security System has risen following seven consecutive months of decline. 23,197 new self-employed workers registered with the system in the last four months.

Reserve Fund of the Spanish Social Security System amounts to 67.95 billion euros in May

So far this year, the Reserve Fund has obtained a profit of 1.13 billion euros on its investments. “The System has some undeniable strengths, its reserves being among them”, said Tomás Burgos.

After three months of growth, the Spanish Social Security System is once again approaching 17 million contributors. Furthermore, the number of companies with a contribution account code increased by 3,673 – a little over one hundred per day.

Inbound tourists spend over 13 billion euros between January and April 2012, 3.5% more than last year

According to the Tourist Expenditure Survey (EGATUR) drafted by the Institute for Tourism Studies of the Ministry of Industry, Energy and Tourism, inbound tourists spent a total of just over 13 billion euros in the period January to April 2012. This is 3.5% more than in the same period of last year.

Average daily spending in said period rose by 13.5% to 108 euros while spending per tourist rose by 2.3% on the same period of last year to 951 euros.

Average daily spending by Italian tourists rose sharply by 19%, as did spending by tourists from the Nordic Countries (up 13.2%) and Germany (up 11.1%).

Treasury releases credit to Andalusia after the region undertakes not to change the figures contained in its economic-financial plan

The Ministry of the Treasury and Public Administration Services agreed on Tuesday to release the credit requested by the Regional Government of Andalusia to finance certain debt maturities after receiving a letter sent on Tuesday in which the region undertakes not to change the figures contained in its economic-financial plan. 

The letter sent on Tuesday by the Treasury and Public Administrations Councillor of the Regional Government of Andalusia states that “with regard to the news published in the press over the course of this week regarding an alleged delay in the implementation of the measures contained in said Plan, I wish to reiterate that the current process of negotiations does not in any way affect the commitment made in terms of the amount contained therein”.

26% of Spanish companies increase portfolio of export orders in first quarter of 2012

The results from the la Export Sector Survey corresponding to the first quarter of 2012 drafted by the Ministry of Economic Affairs and Competition reflect a positive performance in the most important areas. 

There was a rise in the number of companies increasing their portfolio of orders in the first quarter of 2012 (26% of companies with an increase in orders of 3.9%). The Synthetic Index of Export Activity (Spanish acronym: ISAE) also rose by 7.7% from -7% in the last quarter of 2011 to 0.7% as a result of more positive expectations regarding export activity in the first three months of the year and the improved forecasts for three and twelve months.

For more information on this survey, click here. This information is in Spanish.

Source: Lamoncloa.gob

Eurozone Unemployment Comes In Right In Line With Expectations At 11.0%

Eurozone unemployment stayed flat at 11.0 percent in May, coming in right in line with expectations. Last month’s data was revised higher, however, from 10.9 percent to 11.0 percent.

Yesterday, data showed that unemployment in Germany sank to 6.7 percent from 6.8 percent in April.

Today we saw Italian unemployment jump to 10.2 percent in April from 10.1 percent before. Earlier predictions for the later data point were revised sharply higher.

Source: El Economista.es

Help for regions won’t harm Spain’s rating, minister says

Finance Minister Cristóbal Montoro said Monday that he does not believe that the central government’s plans to help the Spanish regions secure cheaper funding will undermine Spain’s sovereign rating.

The regions have asked Madrid to consider the issue of so-called hispanobonds that would be issued by the regions but backed by the central government, which would allow them to obtain funding at a cost similar to that of the sovereign.

Number of foreign contributors to Spanish Social Security System increases for second month to 1,708,579

The number of foreign contributors to the Spanish Social Security System increased by 17,851, or 1.06% in April 2012 – the second month of growth after an eight-month decline. April is usually a month of growth in terms of foreign contributors to the system due to agricultural harvest seasons and the start of the tourist season.

The number of contributors increased in all Regimes of the system except for the Domestic Workers’ Regime, which is currently being phased out (the deadline for these workers to be transferred over to the Special System within the General Regime expires on 30 June). There was particularly strong growth in the Special Seamen’s Regime (up 1.44%) and the Self-Employed Workers’ Regime (up 1.28%). The General Regime grew by 2.33%.

Cristóbal Montoro insists that reducing the public deficit is the only way out of the economic crisis

The Minister for the Treasury and Public Administration Services, Cristóbal Montoro, underlined external debt as the main problem for the Spanish economy and one that must be resolved. He also insisted that an organised State of Autonomous Regions must not waste money given that federal countries have a more developed method of organising themselves and more efficient economies.

Roland Berger and Oliver Wyman to evaluate balance sheets of Spanish banks

The Ministry of Economic Affairs and Competition and the Bank of Spain have agreed to hire the consultancy firms Roland Berger and Oliver Wyman as independent evaluators to provide an assessment of the balance sheets of the Spanish banking system.

After contacting the major international consultancy firms, the Bank of Spain formally hired Roland Berger and Oliver Wyman on Monday and they will immediately begin their work in order to issue their reports in the second half of June.

The purpose of this initiative is to increase transparency and remove any doubts regarding the evaluation of assets held by the banks in Spain once and for all.