💨 Abstract

Catastrophic floods in Spain resulted in over 200 deaths, causing an estimated negative 0.2 percentage point impact on the country's fourth-quarter GDP and a mild increase in inflation, according to the Bank of Spain. The flood-affected areas account for approximately 2% of Spain's economic activity. The government announced a €14.36 billion aid package to assist households and businesses.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖