Bottlenecks latest publications

June 8, 2022

Spain | Recovery, Transformation and Resilience Plan: situation and outlook

Despite the expectations created at the end of 2020, the Plan's impact on the National Accounts was slow in 2021 — though this is expected to accelerate in 2022 and 2023. The challenge now is to invest wisely in projects which will drive and transform the economy.

May 30, 2022

Spain | Chronicle of an (un)announced inflation

The inflation woes currently afflicting us are well known by now, as are the causes, consequences and all the risks they entail. The response so far, while well-intentioned, has failed to solve the underlying problem and more forceful monetary policy action is almost inevitable as we move forward.

May 17, 2022

Spain | Brakes on housing investment

Home sales have been rallying since the second half of 2020, yet supply is barely growing. If the factors behind the sector’s sluggish recovery are not promptly addressed, the resulting pressure will push prices even higher.

April 7, 2022

Spain Economic Outlook. Second Quarter 2022

GDP growth in Spain is revised downwards to 4.1% in 2022 and 3.3% in 2023. The main reasons are the Ukraine's invasion, the sanctions imposed on the Russian economy and the increase in prices, especially energy related, over the last few months.

March 28, 2022

Colombia | The vaccine against inflation: interest rate hikes

In the current global scenario, the general price level has lost stability. During the pandemic, supply was paralyzed, generating bottlenecks that caused prices to rise. In the region, central banks decided to increase interest rates to counter inflation.

March 14, 2022

Global | Inflation: an uncertain reality

The ECB and most central banks in developed economies have taken up the baton by setting an inflation target of 2%. This is an unenviable task: the only genuinely and uncontested effective tool at their disposal is interest rate control, which loses effectiveness the further inflation is from the set target.

February 3, 2022

Spain | NGEU: Turning a delay into an opportunity

The NextGenerationEU program should never have been perceived—or explained as—some sort of countercyclical fiscal policy. It is in fact an opportunity to take a first step toward a genuine transformation of the Spanish economy.

February 1, 2022

Global | An era of higher inflation in Europe?

The sharp upturn in global and European inflation is raising questions in the business press and the general public about a problem we had forgotten about for many years.