navarra

Volkswagen to invest €4.2 billion in Catalonia and Navarra factories over next 4 years

May 8, 2015 10:03 PM | ACN

The German car manufacturer has announced massive investment in two of its factories in Spain: its plant located in Martorell (Greater Barcelona) and its factory in Navarra. In particular, Volkswagen expressed its intention to invest €4.2 billion between 2015 and 2019 in what many newspapers have called "the largest industrial investment ever made in Spain". According to estimates made by the Catalan Business and Employment Minister Felip Puig, it is likely that more than half of the total investment will be concentrated on the plant in Martorell, which builds Seat cars as well as models from other brands of the Volkswagen group such as Audi. In a meeting with the Spanish Prime Minister Mariano Rajoy, Volkswagen Global Sales Vice President, Javier García Sanz, stated that the two plants that will receive the multibillion investment are among "the best factories of the Group".

Independent Catalonia’s economy would get an A+ rating, 7 levels better than the current one

January 29, 2015 11:04 PM | ACN

According to a study by the Professional Association of Economists of Catalonia (Col·legi d’Economistes), an independent Catalonia would obtain a much better grade from rating agencies than it currently gets, taking into account its diversified economy and higher GDP per capita than the European average. Specifically, it would obtain an A+ rating, 7 levels higher than the current BB ‘junk bond’, using Standard&Poor’s classification. The study highlights that without the current fiscal deficit with the rest of Spain, the rating would be “at least” that of the Basque Country and would enable the Catalan Government to access the international financial markets. Catalan taxpayers pay much more to the Spanish Government than the amount they get back in terms of services and infrastructure; a fiscal deficit equivalent to between €13bn and €17.5bn per year.

People's Party (PP) continues to criticise November 9's participatory process and announces legal actions

November 10, 2014 08:16 PM | ACN

The day after 2.3 million citizens gave their opinion on Catalonia's independence, the reactions of Spanish and Catalan parties did not bring great surprises. The PP, which runs the Spanish Government, considered the vote "illegal" and announced potential legal actions. In addition, they stated that "a silent majority" did not vote. The Spanish and Catalan Socialist parties (PSOE and PSC) insisted on a Constitutional Reform and rejected an independence referendum. Populist party Ciutadans (C's) asked for early elections, while Spanish nationalist UPyD wanted Catalonia's autonomy to be suspended. Parties supporting self-determination praised Sunday's vote. The governing centre-right pro-Catalan State coalition CiU wants to explore negotiations, although Liberal CDC is sceptical about the results. The left-wing independence party ERC and the alternative left and radical independence CUP rejected negotiations with Madrid. The green socialist and post-communist coalition ICV-EUiA asked for a binding referendum.

Catalonia ranked fourth in Spain with GDP per capita of €26,412

December 27, 2013 07:37 PM | ACN

Catalonia has confirmed its fourth place in the Autonomous Community rankings of GDP per capita, according to figures released by the Spanish Institute of Statistics (INE). This data from 2012 reveals that the Basque Country is still the leading area in Spain, followed by the region of Madrid and Navarre. The figures indicate that the GDP per capita of Catalonia amounted to €26,412 in 2012, meaning 0.7 % less than in 2011. In 2012, the wealth generated by the Catalans totalled €192,535 million, 18.7 % of the Spanish GDP, above the 2011 figures when Catalonia contributed to 18.6 % of the Spanish economy.

Brussels suggests Spain follow Catalonia’s plan for youth employment

November 22, 2013 07:48 PM | ACN

Speaking to the Economic Affairs Committee of the European Parliament, the European Commissioner for Employment, Lázló Andor, said that Spain should profit from its decentralised organisation to help fight youth unemployment. He suggested that the rest of Spain’s Autonomous Communities should follow the examples of Catalonia and Navarra to improve employment levels among youngsters. The European Commissioner said that Spanish authorities should take note of the plans launched by Catalonia and Navarra, where the youth unemployment situation “is better than the national average”. However, despite these levels being lower than in most of Spain, youth unemployment in Catalonia is worryingly high, at more than 53% in July.