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The FLA allowed regional governments access to financing on favourable terms. However, its costs should lead to changes in its design and implementation. Governments that have not accessed the FLA have helped reduce the risk premium, are financed at lower rates than the Treasury and are growing more.

The INE has today published the estimate of 2022 GDP growth by autonomous communities in Spain. The results show that the growth hierarchy was in line with what was pointed out by BBVA Research, which predicted greater strength in island and tourist communities, and less in industrial ones.

The crises of the last fifteen years have resulted in a sharp increase in regional debt, which has also conditioned its structure. The FLA provided access to financing at a time when the markets were closed on very favourable terms, and has bec…

This presentation analyzes the evolution of GHG emissions in Spain and its main determinants. The Spanish Regions that contribute the most to national activity do not always generate the most emissions. Sectoral structure and mix and balance of…

The INE has today published the first estimate of GDP growth for 2021 by Autonomous Community in Spain. As BBVA Research pointed out, the greatest dynamism was seen in the island and tourist regions. The Canary Islands, Navarre and the Basque C…

Central Government has authorized (approved and implemented) spending programs linked to the RRTP amounting to 43.7 billion euros, 83% of what was planned for 2021 and 2022. Of these, Central Government would have granted and awarded investment programs for more than 11.6 billion euros.

The Recovery, Transformation and Resilience Plan is a unique opportunity to undertake the investments and reforms needed to transform the Spanish economy. It will mobilize more than €69 billion until 2026, financed by transfers from the NextGenerationEU's Recovery and Resilience Mechanism (RRM).

This observatory analyses how regional public accounts may evolve towards 2022, with the aim of assessing the situation in which Regional Governments will find themselves once the crisis is over. To this end, different scenarios are considered,…

The process of urbanization of employment continued during the recovery (2013-2018). Both the degree of initial urbanisation and the relative importance of tourism and the hotel industries conditioned its evolution. In addition, sectoral change…

This paper quantifies and analyses the interrelationship between the economic activity (GDP) of each Spanish region in response to the variation in economic activity of the remaining regions and to oil price shocks. The regional GVAR model deve…

Tourism in the Balearic and Canary Islands, investment in Andalusia and Murcia and exports in CC. AA. as Asturias, together with consumption that slows down less than expected, justify the upward revision of Spain's GDP to 3.3% in 2017. Balears, Canarias, Madrid, Murcia and Andalusia continue to lead growth

The revision of Spain's GDP increase in 2017 from 2.7% to 3.0% is supported by the evolution of exports and the greater activity in residential construction. The biggest upward revisions are in the Balearics, the Canaries and Madrid, which will continue to be the most dynamic regions. In 2018 GDP will increase by 2.7%, wit…