Spain

Spain's mixed capitalist economy supports a GDP that on a per capita basis is 80% that of the four leading West European economies. The center-right government of former President Aznar successfully worked to gain admission to the first group of countries launching the European single currency (the euro) on 1 January 1999. The Aznar administration continued to advocate liberalization, privatisation, and deregulation of the economy and introduced some tax reforms to that end. Growth averaging 3% annually during 2003-06 was satisfactory given the background of a faltering European economy. The new socialist president, Rodriguez Zapatero, has initiated economic and social reforms.

Spain’s economic wealth, together with the tourist resources of the country, have attracted a growing number of immigrants that have established their residence in Spain in the latest years and have become a relevant target for the media companies. The newspapers, with their circulation stagnated, maintain their income rates thanks to product distribution and advertising.

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