Search results

In this article we analyse what we can expect of European public accounts in the coming years, following the entry into force of the European Union’s new economic governance framework.

Despite being the world’s largest consumer of commodities, China lacks certain essential materials and relies heavily on imports, especially of oil, natural gas, copper, aluminium and nickel. To address this dependency, the country has implemented a long-term strategy that includes the stockpiling of strategic reserves, which could affect global commodity prices.

Despite the reduction of the public deficit to around 2.8% of GDP, the Treasury’s funding needs remain high, with a projected net issuance of 60 billion euros. It will also have to deal with the end of reinvestments by the ECB and the impact of interest rates on public debt.

The beginning of 2025, with a month of January marked by contrasts, exemplifies how political and geo-economic risks can continue to steer the market.

We are witnessing an acceleration of the reconfiguration of the world economic order that was already underway before the pandemic and, in that transition process, we will see winners and losers.

We are facing a new year of strong economic emotions, so it is advisable to make the most of the Christmas break to take a respite.

The starting point for next year is a global economy that is recovering much of the growth lost during the pandemic, thanks to the success of the vaccines and an extraordinary revival in demand for durable goods that has not been met by supply, creating bottlenecks that have ended up distorting value chains and leading to an unexpected surge in inflation.

One of Donald Trump’s big proposals during the campaign that helped propel him to the US presidency was the introduction of a universal tariff of between 10% and 20% on imports of goods. How could this affect Europe?

There are still few large companies in Spain, especially when compared to the major developed countries. This is undoubtedly one of the main reasons why the productivity of the Spanish economy remains relatively low.