Arab Today, arab today eu hints at easing of budget targets for spain
Last Updated : GMT 21:26:48
Arab Today, arab today
Arab Today, arab today

EU hints at easing of budget targets for Spain

Arab Today, arab today

Arab Today, arab today EU hints at easing of budget targets for Spain

Madrid - AFP

Spain\'s austerity programme may be eased if the economy continues to contract, the European Union\'s top economic official said Monday. Economy commissioner Olli Rehn suggested that Spain could be given more slack to meet the strict budget targets set out by the block to save the eurozone\'s fourth economy from bankruptcy. \"We take into account the growth outlook and the fiscal space of each and every country when we make the assessment,\" Rehn told reporters, in reference to an evaluation of Spain\'s performance due next month. \"If there has been a serious deterioration in the economy, we can propose an extension of the country\'s adjustment path,\" he said. Spain\'s efforts to comply with austerity measures demanded by the EU have been hampered by a continued contraction of the economy and unemployment which rose to a record 26% in the last quarter of 2012. Spain had committed to reducing budget deficit from 9.4% of GDP in 2011 to 6.3% in 2012 but analysts, including at the European Commission, predict it will miss the target. Rehn said Spanish companies should be given easier access to credit if the economy was to buck the downward trend and generate new jobs. He described \"excessively tight financing conditions\" as a major \"bottleneck\" for the government of Prime Minister Mariano Rajoy to tackle. Brussels has already forecast Madrid would fall short of its 2013 budget target but Rehn tried to remain upbeat about Spain\'s path to recovery and the year ahead. \"This will be still another difficult year, but I\'m confident that it will also be the year in which the corner is turned, in which Spain and the euro zone as a whole can move from stabilisation to a sustained recovery,\" he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu hints at easing of budget targets for spain Arab Today, arab today eu hints at easing of budget targets for spain

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu hints at easing of budget targets for spain Arab Today, arab today eu hints at easing of budget targets for spain

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday