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DG Economics, Statistics and Research


The current director general Economics and Statistics is Ángel Gavilán and the associate directorate general Economics and Research is Carlos Thomas


  • Structural Analysis and Microeconomic Studies Director: Olympia Bover
  • Macro-financial Analysis and Monetary PolicyDirector: Roberto Blanco
  • Economic DevelopmentsDirector: Enrique Moral
  • International Economics and Euro AreaDirector: Javier Pérez García
  • StatisticsDirector: Juan PeñalosaDeputy Director:(Vacant)
  • International and European RelationsDirector: Paloma Marín


The Directorate General Economics and Statistics is responsible for:

  • Conducting studies and research on economic and financial matters within the sphere of the Spanish, European and international economy.
  • Compiling, analysing and disseminating the statistics entrusted to the Banco de España.
  • Drafting the Annual report and other reports and publications in the areas within its remit, and taking the steps necessary to disseminate analysis of the economic situation and of monetary policy.
  • Conducting the preparatory, advisory and monitoring work relating to the Banco de España’s participation in European institutions and in connection with the above-mentioned competencies, and, in particular, relating to the meetings of the Governing Council and General Council of the European Central Bank and the Economic and Financial Committee of the European Union.
  • Developing and managing the international relations of the Banco de España outside the scope of the European institutions and with the main international organisations and multilateral institutions, including in particular the monitoring and analysis of the IMF’s activity.
  • Coordinating international cooperation, including technical assistance, by the Banco de España with other national central banks, financial supervisors and other similar public agencies.
  • Studying and monitoring the political, economic and solvency-related developments in countries of relevance for the purposes of the financial risk assumed by Spanish institutions, in step with its regulatory function in respect of country-risk provisions.
  • Managing the Banco de España Library.