April 10, 2021

The pending subjects of Sánchez after the "no" to his Budgets and other four economic news

The pending subjects of Sánchez after the "no" to his Budgets and other four economic news


1. The fall of the Budget prevents the fulfillment of the deficit target. The fall of the General Budgets of the State in the Congress of the Deputies turns the fulfillment of the objective of deficit into an impossible mission. This was noted yesterday by the Minister of Finance, María Jesús Montero, during the defense of the bill that has failed today and this has been acknowledged at the end of the Plenary that voted to reject its accounts: «Without new Budgets the deficit will vary between 2.2% and 2.4%, figures that are outside the parameters of Brussels.

2. What happens now after the rejection of the Budgets? What leaves the Sanchismo pending. The Congress of Deputies has definitively knocked down the General State Budgets (PGE), after getting ahead the amendments to the whole by 191 votes in favor of PP, Citizens, ERC, PDECat, Forum, Canary Coalition, UPN and Bildu, against 158 ​​votes against and one abstention.

3. The keys to the success of the four supermarkets that sell the most in Spain. Last year, only two distribution and food chains managed to grow in Spain: Mercadona (+ 0.8%) and Lidl (+ 0.5%). From the Balance of Distribution and Large Consumption 2018 of Kantar Worldpanel is extracted that the super and concentrate 60% of spending compared to 24.2% of small businesses, 13.3% of hypermarkets and 1.6% of Internet commerce, which only increases one tenth.

4. BBVA recognizes that Villarejo's alleged eavesdropping could "have a negative reputational impact". The BBVA has admitted that the scandal that links him with former commissioner José Manuel Villarejo for the alleged massive wiretapping «Could have a negative reputational impact» for the bank if it is confirmed, as they have been warning different organisms and the Government.

5. Nissan will cut its production in Barcelona by some ten thousand more vehicles. The Nissan plant in Barcelona will reduce its production in about ten thousand vehicles in the first part of its next fiscal year, according to the work plan that the management has communicated to the unions and that will leave the factory running at 30% of its capacity.


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