spain 2011 deficit \could exceed 80
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Spain 2011 deficit 'could exceed 8.0 %

Arab Today, arab today

Arab Today, arab today Spain 2011 deficit 'could exceed 8.0 %

Madrid - AFP

Spain's finance minister warned on Monday that the public deficit for 2011 could surpass eight percent of gross domestic product, a figure announced last week and already beyond the six percent originally forecast. "It is possible that it exceeds 8.0%, but I hope it won't be much higher," Luis de Guindos told private radio Cadena Ser. Spain's new right-leaning government announced on Friday that the 2011 deficit would top previous forecasts as it unveiled spending cuts and tax increases to claw back 15.1 billion euros ($19.6 billion) in 2012. "A big part of this difference (in deficit forecasts) comes from the regions," de Guindos said, adding that he expected them to "make an effort". Spain's 17 autonomous regions, which are responsible for health and education services, were particularly hit by a 2008 crash in the housing market and are an increasing source of concern for economists and policy-makers. "Everyone must participate in this effort," the minister said. "We are in a very difficult situation, very complex, and without a doubt the hardest in the past decades in Spain," he said. Prime Minister Mariano Rajoy, freshly installed after beating the Socialists in November elections, has vowed to meet Spain's target of reducing the public deficit to 4.4 percent of GDP in 2012. Madrid aims to narrow the deficit to 3.0 percent of GDP -- the limit agreed by European Union members -- by 2013. The public budget in European Union terms comprises the budgets of central government, welfare systems and local authorities. De Guindos said measures to rein in the public deficit would be accompanied by structural reforms in the labour market and financial system aimed at reviving Spain's economy. "The government has a very aggressive reformist agenda for the next few weeks and months," he said. "We all must reduce the public deficit but I also believe that we must put in place economic reforms because Europe can't limit itself to a simple economic policy of budget adjustments. It is economic reforms that will allow us to emerge from the crisis."  

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*

spain 2011 deficit \could exceed 80 spain 2011 deficit \could exceed 80

 



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*

spain 2011 deficit \could exceed 80 spain 2011 deficit \could exceed 80

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday