catalan way

The Catalan Ministry of Economy and Knowledge has released its macroeconomic outlook for 2011. At the end of the current year, the unemployment rate will be 18%, up from 2010.

The President of the Catalan Government, Artur Mas, presented a road-map with 474 objectives to be reached during his term in office. The Catalan Government’s plan faces three main crises: the economic slowdown, the relationship between Catalonia and Spain, and citizen trust in the democratic institutions. The strategic plan is organised along eight main axes, with economic recovery being the first priority.

In the year of its 130th anniversary, the historical flagship of the Catalan press, the spokesperson of the business world and centre-right nationalism has launched an edition in Catalan. ‘La Vanguardia’ has finally taken this step after many years, or even decades, of rumours. Also some months after a new newspaper in Catalan aimed at a similar but younger target began publication. “Our DNA is Catalan”, states the newspaper’s editor Javier Godó to explain their decision.

The Catalan Minister for Finance Andreu Mas-Colell has unveiled the main guidelines for the budget proposal for 2011, which he said are shaped with “austerity, seriousness and credibility”. Public expenditure will be cut by 10%, although he warns that it is impossible to meet the 1.3% deficit objective, as it is a transition year and some revenues have not been paid. However, he insisted that the 2012, 2013 and 2014 objectives will be met. The Spanish Government warned that not meeting the deficit objective for 2011 is not an option. Mas-Colell also explained he has not included, not even as a pending revenue, the 1.45 billion euros for the Competitiveness Fund.

The Catalan Government is benchmarked by the American company for using this technology that has enabled saving up to 20% of the costs, according to a representative from the CTIT.

According to a study released by the Spanish Observatory of the Wine Market, Catalan wine exports increased by 8.8% in 2010 in terms of revenue, but at a lower rate than other wine producing areas in Spain, with an average increase of 10%. However, foreign customers seem to appreciate the quality of Catalan wine, as its price increased by 3.6%, while the average Spanish wine price dropped by 4.9%.

Elena Salgado, the Spanish Vice President for Finance, wanted to end the debate and discarded transferring the 1.45 billion euros from the fund in 2011. This is the amount asked for by the Catalan Government. The Catalan Minister for Finance has been asking for “co-responsibility”. The same day, the Spanish Senate approved a motion asking the Spanish Government to pay this fund this year as it is its legal obligation. The Catalan Government prefers political dialogue than taking the issue to the courts, as suggested by the Catalan Socialist Party.

The Catalan Government received 3.2 billion euros last week from retail bonds, 0.5 billion euros more than the initial quantity released on the market. In addition, it will have to issue more debt and it needs the agreed money transfers from the Spanish Government. However, the Spanish Deputy Minister for Finance has rejected the request from the Catalan Government of 1.45 billion euros from the Competitiveness Fund and has warned Catalonia not to include that amount in this year’s budget. The Spokesperson for the Catalan Government accuses the Spanish Government of “acting as a defaulter”.

Xenophobic parties such as ‘Plataforma per Catalunya’ and ‘Vía Democrática’ are growing in the Left-Wing bastions near the Catalan capital. They are still very marginal but for the first time they could win some seats in Barcelona neighbouring towns.

The Catalan firms have their headquarters in Barcelona. Gas Natural Fenosa is Spain’s sixth largest company and Criteria Caixa the seventh according to the magazine. In the ‘Forbes’ Global 2,000 List, which ranks the 2,000 world’s largest companies, Gas Natural occupies 269th place and Criteria Caixa 322nd.

Catalan tradition dictates godfathers to offer a “Mona de Pasqua” to their godsons or goddaughters for Easter Monday. The cake goes with a chocolate sculpture or figurine, which in some cases are true masterpieces. Chocolate houses, chocolate trains or popular cartoons made out of chocolate are some of the creations that top the cake. Catalan patissiers expect to sell 660,000 “mones” this year, although smaller ones due to the economic slowdown.

Kenneth Rogoff, currently professor at Harvard, predicts that Spain has a “high chance” of being rescued by the European Union. He also ads that, if it were not rescued, even France could fall.

The Catalan restaurant came second in the ‘S. Pellegrino World’s 50 Best Restaurants Awards’, organised by British Restaurant Magazine, with Copenhagen's ‘Noma’ topping the list.

The economic crisis that has dragged on since 2008 has led many young professionals to create their own businesses. Such is the case of four Catalan entrepreneurs in new technologies, all of whom have built their own companies in recent months.

They also asked for an improvement in vocational training and development of the Catalan economy’s internationalisation. The President of the Catalan Government, Artur Mas, met today at the ESADE Business School with 200 of the most important business people in Catalonia. Among others, the presidents and main directors of Abertis, La Caixa, Banc Sabadell, Seat or even FC Barcelona were present and Mas asked them to take the lead in the economic recovery.