burn cisco pains, classic american songs. bennett, who is one of the most popular seniors of the 50s. frank sinatra famously called him the best in the business. then it was touring well into his ninety's. and in his later years found a new success. collaborating with younger stars such as lady gag spain's economy has been picking up speed. so why could the government face defeat in sunday's elections? chris cobra has the details of the w business after a short break for me and the team here. thanks for watching. take care and see very soon the people in trucks inject, when trying to free the city center. more and more refugees are being turned away. these straight pieces,

extreme around 200 people around the world. more than 150000000 people, which we ask why? because no one should have the make up your own mind. me for mine's the the, the minimum wage raised economic growth on track inflation paved. so why is spans left, his prime minister having trouble staying and power will take a look at what's on voters minds just days before that spans snap. and that's also coming out of a further sign of commitments to orthodox economic policy and an attempt to address

red hot inflation. turkeys and central bank raises interest rates for the 2nd time since the elections and make press koval. welcome to the program. on sunday, people in spain elect a new parliament and a shift to the rights seems possible. that's even though prime minister petrie sanchez left this coalition can shine where they can amik successes. the economy grew by 5 and a half percent last year. stronger than it has been in decades, so the central bank recently raised the forecast for this year from 1.6 to 2.3 percent prime is the son, sanchez is also lost. a $45000000000.00 jar, a stimulus package to ease the burden of citizens sales tax on basic foods like bread, milk and eggs has been abolished and the price cap has been introduced to electricity and gas is intended to curve price increases. unemployment is around 14 percent, although still alarmingly high. it is at its lowest level in 15 years. also

a minimum income is suppose to help spans forest. but some companies say is having the opposite effect. garlic is a key ingredient in spanish cuisine and the key to understanding how spain's a minimum income works. this company on the east coast processes and exports thousands of tons of the pungent bulbs the year. most workers are in minimum wage here, but there's only been a muted response to the news that they're getting a res. yet i'm all set on the good, but not in the way it ought to be. thanks to the high prices when we go shopping. if those prices were lower, we would be better off if we had, i'm a buckle, it's added for unions, the minimum wage boost is a big step forward. there's a, there's a sonya is a 6 years i've had

a continuous increase in the minimum wage. this is a way of distributing wealth and making a large number of workers in spain better off. we're talking about more than 2000000 workers. they might say those me honestly, the highlighters. employees at the garlic wholesaler mostly women benefit from the wage increase. at least the ones who still have jobs. he'd been demo may not because we are sending less to the supermarkets and costs are also going up. we have been forced to lay off some workers today. if you knew that one of the holidays in the past 6 months, a quarter of the 160 workers have been let go. a few kilometers a way to if he kind of adds calculates that he now has to pay $12.00 bureaus and $0.23 per hour to each worker on his mandarin farm. and that adds up at least 70 people are needed to work to 300 hector's. nearly half of the people are minimum wage in spain work in agriculture. so raising it can be difficult for employers

go more interested on monica, non profit margin chips shrinking because we can pass on our increased costs to supermarket. just put a few of them inside of these 10. no. and that makes our situation very complicated . voice. i don't know, so those are gonna be gone, which allows me to ask them. it's not clear yet what the consequences of the minimum income will be for spans economy as a whole, especially in the absence of statistical surveys. but what stands out this out in the regular fee, though, unemployment figures are no longer fully as steadily in spain as they are in other european countries as it was but the spices, it would all be or it could be that the increased the minimum income is difficult to digest, especially in the countryside that to get more on the situation in spain. and so shortly before the elections from gail alar to as an economist at i. e university and madrid. welcome to w. gale now raises in minimum wage,

an economy that's growing steadily and inflation which has been tamed. why is spanish prime minister petra sanchez? never the less facing an uphill battle in trying to get reelected as well. i think if we gave a little background to this, it, it, it might be a little clear as pain east doing really well. it's one of the, you know, it's been one of the fastest growth rates and the leading economies now for the 3rd straight year. but if we look at where the recovery is coming from, some of these issues are not hitting your average citizen. so for example, tourism is doing very well despite this heat wave, it's doing extremely well. um, but what does that do? well, it, it does bring in a lot of jobs, but they are generally covered by immigrants and it pushes up rents, you know, a lot of them are going to air b and b. so this is, this is a, a source of problems. we're seeing a strong growth in housing investment, but a lot of that is foreigners, so we're seeing a lot of american and well north american, us and,

and mexican money come in as well as your opinion, mind because spanish housing is still pretty reasonable. you're seeing a demand for housing from remote workers, again, not hitting your, your middle class and, and pricing people out of the market. and then we also have to remember that spain was one of the countries to separate the most from the they yours own crisis from the pandemic. and so there has been a lot of ground to recover and you just recovering it. but those memories are very strong, and of course inflation. inflation is eminently unpopular. spain has that a lot of inflation. it's come way down. it's doing really well. but this means, you know, lower real income so, so these are, these are real issues for the average banner gain. let's talk about unemployment. um, the unemployment rate in spain has come down significantly, but is still quite high. what are your thoughts on that? and we have to remember that spanish unemployment went up to, you know,

25 percent after the global financial crisis. and now it's down to 11 and a half. so it's quite an improvement in spring has a hard time getting below 8 or 9. so, you know, it's quite good. of course we're interested in the quality of jobs generated, but you know, the unemployment situation is good in spain was one of the biggest creators of employment in europe in the 1st quarter, 2023. so again, we have to see it in perspective, spain does have a lot of structural issues like seasonal work, like, you know, the labor market is very rigid, which affect its ability to really get that unemployment rate down. of course, the underground employment to is, is an issue there. so it's a pretty good figure for spain. span is the recipient of the 2nd highest amount of funds coming from the you recovery fund, trying to address the pandemic. how is that factoring in when it comes to the

spanish economy? i don't, i think from outside it would be very easy to say that's the reason in spain is growing so well. but if we get really precise about this and we kind of, we really look at the funds they were suppose to receive over the period about 5 percent more than 5 percent of g p, which is very substantial. but spain has had a lot of trouble actually budgeting and spending those funds because, you know, getting projects approved is difficult. the bureaucracy is quite imposing. so what we find if we really look at this closely, that the central government was only in 2022, was only able to spend actually disperse 30 percent of the amount they expected to spend in that year. so we're now talking about a really low level of, i suppose you would call it execution. hopefully they'll do a little better and i'm sure you know, with elections coming, they've tried really hard in the 1st part of this year to accelerate the process.

so we might see, you know, uh, even maybe of a tripling of that amount of that could add one percentage point to gdp. but up until now we can't really credit those funds with a lot of spain's good performance. gail, are the economist at i university in madrid. gail, thank you for your time. it's a turkey now. and for more than a year the country's president has been prompting the countries at central banks to cut the interest rates, thereby fanning alrighty, galloping inflation. now in a 2nd such move since the elections in may, the central bank raised is key interest rate to 17.5 percent this week. purchase inflation is read off, especially for food the, the menu. yes. got married last year i and they say that this pipes having 2 incomes, they are barely making ends meet offices such as sticks tight foot prices rolls by almost 54 percent in june, year on year wind. either on or to say the increase is even higher. that's being

felt even more acutely in big cities. where people that are already struggling with housing costs. head out in the middle here or outside what to buy together because of that. but if the, i don't think we're eating a balance, unhealthy diet, all the cubic foot rather than we are merely getting enough to fill our stomachs and get ready for work the next day. because i did not a sy, buildings, and issued the united nations food and agriculture organization says global foot prizes have been on a downward trend over the last 12 months. but turkey has technical assistance rise and food prices for turkey. 3 cons that for 2 months. so what's the cause of this increase? how's it on the in june, the significant fluctuations and exchange rates there was a 23 percent increase in the diesel price alone. the total surface area of agricultural land is freaking in the past 6 years. it's gone down by 15 percent

wage earners are compared to find these solutions in the face of regularly increasing prices on the market that they showed us. we're changing the supermarket we shop at. we're switching the brand, see by 4 months ago we started buying the cheaper brands. we used to think we wouldn't want you to mark. we can't cope any other way. i didn't lose box control by hand on notice. in june the start of to harvest season, they were expectations that for the inflation would come in lower. but those expectations were dashed only to either the full price as ease world wide over the past 12 months was in contrast, we experienced a 54 percent increase. has found that the exchange rate has written by exactly 56 percent lots from june 2022 today. which if you notice is parallel to the rise and food prices. the cost of everything from irrigation fuel to fertilizer is

increasing due to the rise and exchange rates. i believe this will continue until the winter months. these drastic price rises are in just cutting into people's pocketbooks. some said they are changing turkey society. take care of that one. fortunately, there is no longer a middle class in turkey city time i see myself as a part of a class that is trying to maintain its life at a minimum level. i'm not in the middle class named spite being white color. i'm not in a place where i can say we have nice lives, like i said, the columbus say profound reforms are needed to come back for the inflation. and that's what's needed. our cultural and economic policy is aimed at development. the residential term relief drops up our show for more news and background information . check out our website at www dot com slash business. and of course the dw, use youtube chat. i'm chris cockburn roland from the entire the entire team. thanks for watching and have a great weekend the

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