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Spain's Budget Deficit On Track To Hit Target

Source: Dow Jones - Wed 27th Oct 2010

Spain's central government said Wednesday its budget deficit hit 3.45% of gross domestic product in the first nine months of the year and is on track to reach the annual target of 9.3% for all of Spain's public administrations, including regional governments.

Overall, the central government budget deficit stood at EUR36.36 billion, 42.1% lower than in the same period a year earlier, when stimulus spending stretched the country's finances just as the end of the real-estate boom led to a collapse in tax receipts.

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