FINANCIAL, ECONOMIC AND SOCIAL POLICY OF SPAIN IN THE NEW CONDITIONS

Abstract

The article deals with the latest trends and problems of the economic and social development of Spain in conditions of large-scale geopolitical and energy crises, the deterioration of the terms of world trade caused by the war in Ukraine. The main ones are growing inflation, falling dynamic of domestic demand, business activity, negative growth rates in the agricultural sector of the economy, uncertainty in the development of some industries and services, growing social inequality. The author focuses her attention on the analysis of the current social policy of the government of the PSOE aimed primarily at mitigating inflationary blow to the socially vulnerable segments of the population. The article also discusses some new promising directions (in the field of employment policy, social security and education) and the mechanism of budget financing based on short-term and medium term planning, special bonus programs and, of course, the long-term basic “Spanish plan for the recovery, transformation and resilience of the national economy”. The successful implementation of this plan, approved by the European Commission and generously funded by European funds, could have a consolidating and a life-changing impact on other EU memberstates and on the Community as a whole. And vice versa.