spain to leave eus deficit sin bin next year rajoy
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 to leave EU's deficit 'sin bin' next year: Rajoy

Arab Today, arab today

Arab Today, arab today Spain to leave EU's deficit 'sin bin' next year: Rajoy

Prime Minister Mariano Rajoy.
Madrid - Arab Today

Spain will be taken off the EU's red list of budgetary sinners next year, Prime Minister Mariano Rajoy said on Friday.

Spain and France are currently the only two eurozone countries still under special budget supervision by Brussels for running up deficits in excess of an EU-imposed limit of 3.0 percent of gross domestic product (GDP).

But "Spain will come out of the excessive deficit procedure in 2018, and we can be close to a balanced budget in 2020," Rajoy told an end-of-year news conference.

Madrid plans to reduce its deficit ratio to 3.1 percent in 2017, then bring it back below the 3.0-percent limit in 2018 when -- according to the government's draft budget -- it will come out at 2.3 percent.

Countries which repeatedly break the 3.0-percent rule enshrined in EU treaties can face possible penalties and fines.

At the end of the third quarter of 2017, Spain's deficit stood at 1.56 percent of GDP, putting on course to reach the 3.1-percent target for the whole of 2017, the budget ministry had said Thursday.

According to the ministry, Spain reduced its deficit by around 35 percent in the first nine months of 2017 compared to the year-earlier period, against a backdrop of very dynamic economic growth.

Madrid is pencilling in growth of 3.1 percent for 2017, about double the eurozone average.

Nevertheless, given the political crisis in Catalonia, Spain has still not approved its budget for 2018, which is crucial to keeping its promises made to Brussels.

The Basque National Party, critical of of Madrid, is currently refusing to support the draft budget, while the Rajoy government, a minority in the assembly, needs the votes of Basque deputies for it to be adopted.

Source: AFP

 

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 to leave eus deficit sin bin next year rajoy spain to leave eus deficit sin bin next year rajoy

 



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 to leave eus deficit sin bin next year rajoy spain to leave eus deficit sin bin next year rajoy

 



GMT 11:33 2017 Tuesday ,25 July

Actress Nadeen Al Rassi says haters use rumors

GMT 16:43 2017 Friday ,10 February

Riyadh to host Mazayen Al-Ibl heritage festival

GMT 08:46 2017 Wednesday ,01 March

NY museums wage cultural war against Trump prejudice

GMT 14:45 2017 Thursday ,17 August

MP: government ignores citizen

GMT 13:53 2015 Wednesday ,23 September

2 Qaeda militants killed in Yemen

GMT 08:03 2011 Thursday ,26 May

Citizen journalism keeps Syria uprising alive

GMT 16:19 2017 Sunday ,16 July

3 wastewater treatment plants to be launched

GMT 06:08 2017 Monday ,20 February

Fuad Masum hails eastern Mosul liberation operations

GMT 09:20 2017 Tuesday ,18 April

Three injured in clash in Bab Tebbeneh

GMT 22:23 2017 Monday ,09 October

Japan's Abe preparing to meet with Putin

GMT 16:25 2017 Sunday ,08 January

China pushes for homegrown driverless cars

GMT 11:22 2017 Wednesday ,10 May

QNB Group inaugurates its Riyadh branch

GMT 14:54 2016 Friday ,12 August

Bangladesh rescues elephant that traveled 1000 km

GMT 10:23 2016 Wednesday ,23 March

cartoon fourteen

GMT 02:18 2017 Monday ,05 June

April21st-May21st
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 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

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