Spain's Prime Minister Pedro Sánchez said his government would mobilise €5 billion to shield the economy from the impact of the war in Iran, EuroNews.com reported. "The war will cost Spaniards €5 billion," he said, adding that additional resources could be deployed if necessary. The package is designed to support around 20 million households and 3 million companies. While it will not fully offset the effects of the conflict, the government hopes it will soften the economic blow. Sánchez also said that the measures will save up to €200 million for energy-intensive industries.

One of Spain’s busiest beach resorts has agreed on a plan to settle €350 million ($403 million) in compensation to land owners who were shortchanged during a real estate boom in the early 2000s, Bloomberg reported. Benidorm will make an initial €60 million payment before year-end and installments both in cash and land over many years, according to a plan approved in a city council vote on Tuesday. That will ease the impact of an obligation worth more than double the city’s annual budget and help it avert insolvency.

Grupo Celsa, a Spanish steel producer, has completed the refinancing of its debt for approximately €2.2 billion, an operation that brings to an end the restructuring process that began in 2023, the Iberian Lawyer reported. This process included the approval of the first restructuring plan in Spain following the insolvency reform, laying the foundations for ensuring the group’s viability and guaranteeing the continuity of its activity.

Bilateral trade between Spain and Russia has shrunk in value, signaling a clear decision to decouple from the sanction-ridden nation, EuroNews.com reported. The Kremlin's decision to launch a full-scale invasion of Ukraine almost four years ago has had an undeniable effect on Spanish companies that aspired to open up markets in Russia, with the result that the volume of their exports has plummeted sharply since the beginning of the conflict.

The strong pace of the Spanish economy moderated in the third quarter of the year, as robust household spending and solid employment trends were countered by slowing exports as trade uncertainty persisted through the summer, the Wall Street Journal reported. Gross domestic product in the eurozone’s fourth-largest economy increased 0.6% in the three months through September, a modest slowdown from the 0.8% in the second quarter, statistics agency INE said Wednesday. Economists polled by The Wall Street Journal expected 0.7% growth.

Consumer prices picked up pace in Spain, further cementing expectations that the European Central Bank will continue to hold off on any further cuts to interest rates, the Wall Street Journal reported. Prices rose 3.0% on year this month in the eurozone’s fourth-largest economy, according to EU-harmonized figures released Monday. That marks an acceleration from the 2.7% rate registered in August, and hitting the highest level since June last year. Rate setters at the ECB consider an annual rate of 2% to be optimal.

The Spanish economy gained a little pace in the three months through June, a sign of resilience for a eurozone facing a slowdown as higher U.S. tariffs bite, the Wall Street Journal reported. Gross domestic product grew 0.7% in the second quarter, accelerating a little from 0.6% in the first months of the year, the country’s statistics office said Tuesday. Spain was the wealthy world’s fastest-growing economy last year, and the International Monetary Fund expects it to keep leading the pack over 2025.

The European Union began proceedings against Spain over its intervention in banking mergers after the government blocked the legal combination of BBVA BBVA 0.59%increase; green up pointing triangle and Sabadell SAB 0.24%increase; green up pointing triangle for at least three years, the Wall Street Journal reported.