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Spain "Will not see new cuts to hit deficit target"

Source: Cinco Dias - Tue 5th Mar 2013
Spain 'Will not see new cuts to hit deficit target'

The Central Government of Spain is not expected to implement any new measures to cut the public deficit during the course of this year, but will have to negotiate with the EU with regards to proposals for 2014. Secretary of state for the budget Maria Fernandes Curras explained the Partido Popular Government's stance in an interview with Cinco Dias on Monday.

"Brussels asked for more economic measures for 2014", Curras told the newspaper. "We are discussing and analysing the effects agreed in the biennial programme presented last year and the entire reform plan scheduled.".

"Logically, this debate will continue while the 2014 budget is drafted. But in 2013 there will be no further measures", she insisted.

Spain will have a deficit of 6,7% of GDP this year and 7,2% in 2014, according to Brussels' latest estimates.

Many Spaniards would be surprised if the Secretary for State's comments were proved true by the end of the year. Since coming to office late in 2011, the PP have made a number of promises that have not been carried forward. In December 2011, upon suceeding in the Country's General Election, PM Mariano Rajoy promised that the rate of IVA (VAT) would not increase, whereas barely 6 Months later this was proved not to be the case.