Spanish Miniater showe that Spain is completoly depondont on

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“riting in the Financial Times Supplement - surope in the Malancey, Don Alberto Ullastres, Spanish ‘linistor of Commerce, had this te say nbout Spain's balance of paynents positions

",..eeinports (have been) $668m. in 1960, $1,03% in 1961, $1,494n. 1962, $1,850n, forescen for 1953, Notwithstanding these scaring foreign purchases, Spain's b-lance of paynenta has shown continuous surpluses "whidh have made’ it possible to ascurmlate not reserves of gold and foreign exchang? close to $1,100,

"The incrense of oxports, on @bher hand, hes been slow and was handi- Gapped this year by a vory poor citrus crop. ‘Tut tourism has developed beyond the most optimistic colenlations, The minber of tourists entering Spain increased by 27% in 1962 ond 224 in the first 8 months of 1963. is not only the mumbor of tourists but also the average spending per tourist has increased, the gross income in this sector ancunted to 385m, in $22 $512m, in 1962, and is expected to reach $675m. this yoorses."