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Spain econ minister reduces infrastructure cuts

Source: Reuters - Wed 18th Aug 2010

Cuts in infrastructure spending in 2011 will be reduced by 500 million euros, due to market stability and internal adjustments, Spanish Economy Minister Elena Salgado said on Wednesday.

Previously the government had announced 6.4 billion euros in cuts in infrastructure spending.

The minister said the government still has six weeks to finalize next year's budget and that it is committed to cutting the deficit to 6 percent of Gross Domestic Product.