Heb / Eng




Spain

Bilateral chamber of commerce in Israel:

Chairman/President: Mr. Nathan Paas
Address: Levi Eshkol St. 42/6 Tel-Aviv 69361 POB 16152, Tel Aviv 61161
Tel.: +972-3-6997041
Fax: +972-3-6997042
E-Mail: cdc.isesp@pan.org.il

Sister Bilateral chamber of commerce in the member state:
Embassy in Israel:

Ambassador: H.E. Alvaro Iranzo
Address: 3, Daniel Frisch St., Tel Aviv 64731
Tel.: +972-3-696-5218/10/19
Fax: +972-3-696-52-17
Email: Lourdes.cobaleda@maec.es  sdstockbaum@comercio.mityc.es
 Counsellor-Economic & Commercial Affairs: Mr. José Manuel Rodriguez Ranero
Tel.: +972-3-6955704/691
Fax: +972-3-6952994
E-Mail: telaviv@mcx.es

Israeli Embassy in the member state:

Ambassador: H.E. Raphael Schutz
Address: Velazquez 150/7, 28002 Madrid
Tel.: +34-91-7829500
Fax: +34-91-7829555
Website: HTTP://WWW.EMBAJADA-ISRAEL.ES
E-mail: INFO@MADRID.MFA.GOV.IL

Country#
EU membership year: 1986
Capital City: Madrid
Total Area: 504,030 sq km
Population: 46,030,109
Currency: Euro

Spain's mixed capitalist economy is the 12th largest in the world, and its per capita income roughly matches that of Germany and France. However, after almost 15 years of above average GDP growth, the Spanish economy began to slow in late 2007 and entered into a recession in the second quarter of 2008. Spain's unemployment rate rose from a low of about 8% in 2007 to more than 19% in December 2009 and continues to rise. Its fiscal deficit worsened from 3.8% of GDP in 2008 to about 7.9% of GDP in 2009, more than double the EMU limit. GDP contracted by 3.6% from 2008, ending a 16-year growth trend. The economy is projected to resume modest growth sometime in 2010, making Spain the last major economy to emerge from the global recession. Government efforts to boost the economy through stimulus spending, extended unemployment benefits, and loan guarantees have not prevented a sharp rise in the unemployment rate, which was the highest in the EU in 2009. Spain's banking sector has been relatively insulated from the global financial crisis, due in part to conservative oversight by the Bank of Spain. Government intervention to rescue banks on the scale seen elsewhere in Europe in 2008 and 2009 was not necessary in Spain, although Spanish banks' high exposure to the collapsed domestic construction and real estate market poses continued risks for the sector. The government intervened in one regional savings bank in 2009, and others have merged out of necessity.


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