Spain
is a Euro Country
Spain together with its islands covers more than 500,000 square kilometres
and has a population of approximately 42 million. Approximately 20% of
the population live in cities of over 500,000 inhabitants. The sectoral
percentage of GDP and workforce structure may be indicated as follows
(2003):
English
is the main second language studied and the labour force is adaptable
and well qualified. Spain is a parliamentary monarchy and its 1978 constitution
enshrined the fundamental civil rights and freedoms and assigned legislative
power to the Cortes Generales, executive power to the government and
judicial powers to judges and magistrates. For administrative purposes,
the country is divided into 17 autonomous communities of which the Canary
Islands form one.
Spain became a full member of the EC (now the EU) on January 1, 1986. Generally
it has a very good infrastructure in the areas of road, rail and telecommunications.
Spain is the EU member which in 2001 received the most EU structural and
cohesion funds; used to finance infrastructure and development projects.
Critical economic statistics include the following:
| |
2004 |
| GDP |
Euro 800
billion
|
| GDP
Growth |
3.00%
( 3% projected for 2004) |
| Unemployment |
14%
(11% projected for 2004) |
| Base
Interest Rate |
2,00%
(6\03) |
| Inflation |
2,5% |
With
careful fiscal and monetary management, now that it is in the first Euro ”division”,
Spain has the opportunity and certainly the potential to become an economic
powerhouse. In this context it is interesting to note that, at end 2001,
Spain’s unit labour costs were 10% below America!
Since
the 14th March 04 Spain has a new government presided by socialist
party leader: José Luis Rodríguez Zapatero.
The
next general election is in 2008.
|
|
