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The European Union has announced that it will issue up to 250 billion euros in green bonds over five years to fund "Next Generation EU" projects with a positive environmental impact.
Economic activity grew 12.9% year-on-year in July, a still high rate due to a low comparison base. In an analysis that compares the GDP figures for 2021 with those for 2019 (a pre-health crisis situation), what is observed is that in July of this year, activity grew 0.4% (June: 1.1%).
September 7, 2021
Spain | The trend in the common system of autonomous communities financing, 2002-2019
This Working Paper contains homogenized series of regional governments funding constructed on the basis of homogeneous competences at equal fiscal effort from 2002 to 2019.
The data we have up to the middle of the summer shows the Spanish economy is growing faster than was forecast a few months ago. The recovery in household expenditure—and in particular the increase in domestic tourism—has improved the outlook, with stronger revisions for the Mediterranean coast.
In the second quarter, GDP grew by 17.6% year-on-year. The low statistical base boosted the result, while resilience was maintained despite logistical problems stemming from the protests. GDP fell 2.4% quarter-on-quarter, with negative results in April and May and a rebound in June.
Economic activity grew 23.5% YoY in June, still a high rate due to a low base of comparison. In an analysis comparing GDP figures of 2021 with those of 2019 (a pre-health crisis situation), we observe that in June activity grew 1.1%.
The improvement in health indicators and the relaxation of restrictions have reduced uncertainty and allowed a recovery in private spending and national tourism. The foregoing translates into generalized upward revisions in all regions in 2021, although with a different magnitude.
According to preliminary data from INEGI, economic activity grew 1.5% QoQ in 2Q21, which represents a downward bias on our growth forecast for this year (current 6.3%)