News about Economy & Business

The Minister for Treasury and Public Function, Maria Jesus Montero. Photo: La Moncloa.

ECONOMY

Spain's 2023 budget passes first reading in Parliament

The Nomad Today 11/1/22

The next year's public accounts include the highest social spending in history with 274.445 billion euros, including European funds, the government says

welding welder factory industry by Pixabay.

ECONOMY

Spain industrial output grows slightly amid economic uncertainty

The Nomad Today 10/11/22

By sectors, capital goods (5.3%) and non-durable consumer goods (0.4%) showed positive monthly rates

30/08/2022. The Spanish Minister of Equality Irene Montero speaks during a press conference after a meeting of the Council of Ministers. Photo: Alejandro Martínez Vélez/EUROPA PRESS/dpa.

TAXES

Spain lowers VAT on menstrual hygiene products, condoms from 10% to 4%

The Nomad Today 9/29/22

The measure has been agreed within the fiscal package negotiated by the partners of the government coalition and will be included in the 2023 state budget

09/26/2022. The Deputy Secretary General of the PSOE and Minister of Finance, María Jesús Montero, during a press conference. Photo: Eva Ercolanese/PSOE.

TAXES

Spain to cut income tax for workers who earn up to € 21,000

The Nomad Today 9/29/22

In addition, the coalition government (PSOE-Podemos) chaired by Prime Minister Pedro Sanchez will create a new so-called "solidarity tax" for the richest

13/09/2022. General view of the interior of a Mercadona supermarket in Spain. Photo: The Nomad Today.

CONSUMER PRICES

September inflation in Spain moderates and falls to 9%

The Nomad Today 9/29/22

This is mainly due to the year-on-year drop in electricity prices, which rose in September 2021

31/12/2018. The president of the Valencian Community regional government, Ximo Puig. Photo: Presidencia Generalitat/File photo.

TAXATION

Spain central government, annoyed by Valencian Community tax cuts

The Nomad Today 9/28/22

In Galicia, the regional government of PP (right) also announced on Tuesday a new reduction in personal income tax (IRPF) on income of up to 35,000 euros per year.

The First Vice President and Minister of Economic Affairs, Nadia Calvino. Photo: Ministry of Economic Affairs.

ECONOMY - GDP

Spanish GDP grew 1.5% in the second quarter of 2022

The Nomad Today 9/27/22

In year-on-year terms, the economy recorded a GDP growth of 6.8%, five tenths higher than previously estimated

26/07/2022. The Minister of Finance and Civil Service, María Jesús Montero, during the press conference after the Council of Ministers. Photo: La Moncloa.

TAXATION

Spain to impose a temporary tax on the rich in 2023

The Nomad Today 9/26/22

ECONOMY

Spanish exports grew 24.2% so far in 2022 but trade deficit remains

The Nomad Today 9/25/22

Imports saw a new record high, rising by 40.2% to 261.485 billion euros

20/09/2022. (L-R) The Third Vice President of the Government and Minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, the Minister for Territorial Policy and Government Spokesperson, Isabel Rodríguez, and the Minister for Health, Carolina Darias, during the press conference after the Council of Ministers. Photo: La Moncloa.

ENERGY CRISIS

Spanish government lowers VAT on gas to 5% from October

The Nomad Today 9/23/22

Madrid stated that depending on how events evolve, the tax reductions could be extended into next year

30/08/2022. Spanish prime minister Pedro Sanchez with the German federal chancellor Olaf Scholz during a recent meeting in Germany. Photo: La Moncloa/Flickr.

ENERGY CRISIS

Spain to lower VAT on gas from the current 21% to 5%

The Nomad Today 9/1/22

This reduction of VAT on gas is one of the measures recently proposed by the leader of the People's Party (PP), Alberto Núñez Feijóo, which was vehemently rejected only the day before by the PSOE…

06/27/2022. The First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño in the press room at the end of the meeting of the Council of Ministers. Photo: La Moncloa.

INFLATION

Consumer prices mark the biggest rise in 37 years in Spain

The Nomad Today 7/1/22

The increase is higher than expected by economists

ENERGY CRISIS

Spanish producer prices increase sharply in May

The Nomad Today 6/28/22

Producer prices advanced 43.6% on a yearly basis in May, after climbing 44.5% in April

Woman-engineer-production-plant-worker by Pexels

GDP

Spain GDP expands less than estimated in Q1

The Nomad Today/dpa 6/27/22

Year-on-year, economic growth accelerated to 6.3% from 5.5% in the fourth quarter

BUSINESS

Netflix lays off 300 workers amid subscriber losses

The Nomad Today/dpa 6/24/22

In addition to layoffs, Netflix has promised to gain more subscribers by offering a cheaper version with commercials and experimenting with ways to make more money from password sharing

A woman shopping for groceries. Photo: Pexels.

CONSUMER SENTIMENT

Spain consumer confidence improves further

The Nomad Today 6/14/22

The current situation index strengthened, as all three sub components contributed positively to the sentiment

A fresh food market in Palma. Photo: Pixabay.

CONSUMER PRICES

Inflation in Spain rises as estimated as food prices soar 11%

The Nomad Today/dpa 6/11/22

Transport prices surged 14.9% from the last year and housing cost advanced 17.5%

08 June 2022, Spain, Madrid: Spanish Minister for the Ecological Transition and the Demographic Challenge Teresa Ribera, gives a statement to the media. Photo: Alejandro Martínez Vélez/EUROPA PRESS/dpa.

ENERGY

Spain and Portugal get EU OK to subsidize electricity production

The Nomad Today 6/9/22

Sanchez has previously announced €16 billion in state aid and loans to help businesses and households weather the sharp rise in energy costs due to the war in Ukraine

HANDOUT - 08 June 2022, France, Strasbourg: European lawmakers take part in a voting session during a plenary session at the European Parliament. Photo: Mathieu Cugnot/EU Parliament/dpa - ATTENTION: editorial use only and only if the credit mentioned above is referenced in full.

SALARIES

Minimum wages across EU to be reviewed with draft common standard

The Nomad Today/dpa 6/8/22

The deal begins a procedure where EU member states are to appraise if their minimum wages are adequate to ensure a "decent standard of living," according to the European Parliament