Despite the positive macroeconomic data with which Spain closed 2025, the reality is that this hasn't translated into immediate benefits for families. During 2025, household savings in Spain declined. And, at the same time, Spanish households are taking out more and more loans. Thus, the household savings rate has seen a full year of progressive decline, as recently published by the National Statistics Institute (INE) with the third-quarter data. The proportion of household savings relative to gross disposable income stands at 12%, the lowest figure since the last quarter of 2023, meaning that they saved €11.084 billion less than the previous year. Specifically, between July and September, this figure fell by one-tenth of a percentage point compared to the previous quarter and by slightly more than one percentage point compared to the same period of the previous year, after adjusting for seasonal and calendar effects. Excluding these impacts, the household savings rate stood at 4.6% of net disposable income, compared to 6% a year ago. Thus, taking into account the balance of capital transfers from the sector, households registered a financing need of €7.537 billion (compared to the €3.588 billion estimated for the same quarter of 2024), explains Europa Press. According to the INE (National Statistics Institute), the Spanish economy registered a financing capacity vis-à-vis the rest of the world of €19.350 billion in the third quarter, representing 4.6% of the gross domestic product (GDP) for that period and a decrease of €487 million compared to the same quarter of the previous year. Parallel to the fall in savings, credit to households is increasing. Credit granted by financial institutions to households and non-profit organizations in Spain grew by 4.3% in November 2025 compared to the same month in 2024, reaching €723.6 billion, while financing to businesses increased by 0.6%, totaling €949.19 billion. Compared to November 2024, credit granted to households amounted to €25.586 billion and lending to businesses rose by €3.389 billion. On a month-on-month basis, financing to households increased by €15.016 billion in November compared to October, representing a 2% increase. Meanwhile, credit to businesses decreased by €331 million month-on-month, a 0.06% drop. Meanwhile, gross income in the State increased by 6% in the third quarter compared to the same period in 2024, due to the increase in compensation of resident employees and, to a lesser extent, the growth of the gross operating surplus.

Directly, without intermediaries, and online. SMEs will have access to €1 billion from the Official Credit Institute (ICO) until 2027 to finance their growth. This was announced this Friday by the Minister of Economy, Carlos Cuerpo, during a working session at the headquarters of Pimec in Barcelona. The instrument is aimed at SMEs that are at least four years old and have audited annual accounts for the last two fiscal years or that have a public guarantee.

Indicators of imbalances linked to real housing prices grew in 2024, which means that real estate overvaluation has increased. This is one of the conclusions drawn from the latest Financial Stability Report Prepared twice a year, in spring and winter, by the Bank of Spain (BdE). The institution now led by former Socialist minister José Luis Escrivá points out that the increase in demand for mortgage loans and a more "rigid" supply in the residential market is what has led to this scenario of rising housing prices. Despite posing a risk, the entity still views it with caution: "The [indicators of] imbalances have grown, but remain at moderate levels," noted the Director General of Financial Stability, Daniel Pérez Cid, during the informative presentation of the document this Tuesday.

Working capital is the main financing problem faced by Catalan companies, especially SMEs, micro-enterprises and the self-employed. This is the main conclusion of the debate between the sector director of companies for Banco Sabadell in Catalonia, Aureli Vallès; the director of the strategic consultancy and financing department of the employers' association Pimec, Pere Cots; and the head of Economics at the newspaper ARA, Albert Martín.