Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain asks EU to revise 2012 budget defecit target

Source: El Pais - Thu 23rd Feb 2012
Spain asks EU to revise 2012 budget defecit target

Spain has requested that the European Commission is flexibile on the deficit-reduction targets agreed with a number of euro-zone countries.

Although being committed to reducing the defecit, Spain is aking Brussels to consider a review of the current 4.4% of GDP target for 2012 toat least 5.0%.

The EC's economic and monetary affairs spokesman, Amadeu Altafaj, declined to comment on whether this would be considered.

The Commission is due to release its growth and inflation forecast for EU member states later today, where the Spanish PM has said it would use the date given as a base for the state budget for 2012, due to be presented in March, and for the Stability and Growth Program, which has to be submitted to Brussels in April.

Spain was amongst 11 EU member states who sent a letter to Brussels asking for the EC to promote measures to reactive the European economy. The European Commissioner for economic affairs, Olli Rehn, last week criticised Spain for dragging its feet over drawing up the 2012 budget, and reminded the Rajoy government of its budget deficit commitments for this year.

Comment on this Story

 
Be the first to comment on this Story !!

Recommended Items

Related Articles

Related Blogs