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Global Development: Part II Europe
Spain
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Spain's GDP has reached more than $550 billion, and its per capita income $14,300. The top income tax rate is 56% (average: 23%). The top corporate tax rate is 35%, the capital gains tax 35%, and the value-added tax 4-16%. The government consumes 16.2% GDP. Spain's population was 39 million in 1989. The exchange rate is 152.04 pesetas=$1.00 and the inflation rate 6.7%. Spain's passenger car fleet reached 15.4 million, new car registrations 1.1 million.
Country profiles were provided by Raymond Champagne
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