Facts about Spain

Topics: Unemployment, Investment, Macroeconomics Pages: 4 (1026 words) Published: October 30, 2013
Introduction of Spain

Spain is a sovereign state and a part of the European Union. Spain is the second biggest nation in Western Europe and the European Union and the fifth largest nation in Europe. Spain has a democratic government organized as a parliamentary government under an established dominion. It is a developed nation with the thirteenth biggest economy on the world by the ostensible GDP. Spain additionally has high living measures with the tenth-most astounding personal satisfaction record rating in the world as on 2006. It is a part of the WTO, OECD, United Nations, and NATO. Current Economic challenges of Spain

The Spanish economy recorded consistent development for 13 years until 2006, yet the rate of development has declined since the second half of 2007. The decrease began with the blasting of the housing bubble and the conditions exacerbated with the crumbling US sub-prime emergency. The housing division was one of the noteworthy drivers of the Spanish economy, representing more than 12% of the nation's GDP in 2007. Throughout 2001–06 property costs multiplied, with 62% of the expansion nearing throughout 2005–06 alone. (RealInstitutoElcano, 2013) Then again, since 2007 property costs have fallen and it is assessed that costs declined by a further 10% throughout 2008-2009.

The Spanish government confronts the major economic challenges of high unemployment and falling inflation since the close of 2008. An economic slowdown has expedited a downturn in streamlined exercises and the level of unemployment has pressed on to ascent. From a high of 22% in 1990, the unemployment level had tumbled to 10% in 2006, however expanded again to 20% in 2009–10. Toward the conclusion of 2009, almost 4 million individuals were unemployed, bringing about a year-on-year build in unemployment arriving at 66.4%.

Political System of Spain

Spain presents a democratic country. There were two parties which were PP and PSOE. The PSOE appropriated...
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