What does the 2024 Annual Report of the Banco de España tell us?
03/06/2025
The Banco de España has recently published the Annual Report 2024Abre en ventana nueva, which explains how the Spanish economy has evolved in the last year and what challenges lie ahead.
Despite a complicated international environment, marked by trade and political tensions, the Spanish economy grew more than expected, with an increase in employment, a fall in inflation and an improvement in public accounts.
The report also looks at key issues such as productivity, the labour market, housing, innovation and climate change.
In addition, it offers proposals to continue improving the economy in the coming years, with reforms that help make it stronger.
The Banco de España Annual Report offers a very complete view of the economy and helps to better understand many aspects that influence our daily lives. Among all the topics it addresses, there are some that we have already discussed on this portal for their special educational interest, such as inflation and the digital euro.
What happened to inflation and prices? In 2024, prices in Spain rose less than in previous years, mainly because food became less expensive.
What is the European Central Bank doing in this context of moderating inflation? The report finds that the European Central Bank lowered benchmark interest rates in 2024, which has been reflected in a lower cost of bank credit.
This measure is part of monetary policy, a tool that influences what we pay for loans or what we earn for our savings.
Understanding how inflation and rising interest rates affect us is a fundamental part of economic and financial education. In this post we tell you how changes in the financial interest rate affect youAbre en ventana nueva.
On the website of the Banco de España you can find a module of contents on inflation,Abre en ventana nueva framed within the economic training program, which explains in a simple way how it affects the economy. In addition, we carry out the Generation €uro contest,Abre en ventana nueva which promotes knowledge about monetary policy among young people.
What is the digital euro and why is there so much talk about it? The report also mentions the digital euro project, a possible new form of electronic money issued by the European Central Bank. In the Portal we have recently published several articles explaining what it is, how it would work and what would make it unique compared to other means of payment.
Why is all this important to you? Because knowing how the economy works helps you make better decisions with your money. From the Banco de España we continue betting on economic and financial education as a key tool so that we can all better manage our personal finances.
“Disclaimer: Please note that this is a translation of the original in Spanish that has been obtained using eTranslation (the machine translation tool provided by the European Commission), with the intention of giving you a basic idea of the content in English until a human translation becomes available. The Banco de España accepts no liability whatsoever in connection with this translation.”
