MADRID—Oscar-winning actress Penelope Cruz says she is deeply concerned about the financial crisis engulfing Spain and how it might affect the future of the film industry in her native country.

The Hollywood star said she would like to encourage film-makers to choose Spain as a location and perhaps use her status to promote co-productions there.

In a statement released Sunday through her agent Katrina Bayonas, Cruz said she also wanted "to rectify" what she called a misinterpretation of her words.

Cruz said an unnamed publication had quoted her as saying, "I will produce a couple of films a year in Spain to provide work for hundreds of people."

Cruz said the published words had "an arrogant tone" that had "nothing to do" with what she had wanted to say.