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Economy Overview:
The Spanish economy boomed from 1986 to 1990, averaging five percent
annual growth. After a European-wide recession in the early 1990s, the
Spanish economy resumed moderate growth starting in 1994. Spain's mixed
capitalist economy supports a GDP that on a per capita basis is 80% that
of the four leading West European economies. The center-right government
of former President AZNAR successfully worked to gain admission to the
first group of countries launching the European single currency (the
euro) on 1 January 1999. The AZNAR administration continued to advocate
liberalization, privatization, and deregulation of the economy and
introduced some tax reforms to that end. Unemployment fell steadily
under the AZNAR administration but remains high at 10.1%. Growth of 2.5%
in 2003, 2.6% in 2004, and 3.4% in 2005 was satisfactory given the
background of a faltering European economy. The socialist president,
RODRIGUEZ ZAPATERO, has initiated economic and social reforms that are
generally popular among the masses of people, but that are anathema to
religious and other conservative elements. Adjusting to the monetary and
other economic policies of an integrated Europe, reducing unemployment,
and absorbing widespread social changes will pose challenges to Spain
over the next few years.
GCS and Graydon International
Graydon International is a leading provider of business credit information around the world. Their business credit reports are easily read in English and consist of reliable and up to date details like identification and official company specifications, credit recommendations, known directors, protest and non-payments, operational details and financial data (profit and loss, balance and key credit ratios).
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