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 could intervene in overspending regions by May

Source: Reuters - Mon 16th Apr 2012
Spain could intervene in overspending regions by May

Spain's central government could intervene in the finances of overspending regional authorities as soon as May, a government source said on Monday.

Spain missed its public deficit target by a wide margin in 2011 largely due to regional overspending which the conservative government has said it will punish if not brought under control.

Spain's 17-autonomous regions must slash their public deficits to 1.5 percent of gross domestic product in 2012 from 2.9 percent of GDP last year.

The lower house of Parliament passed a law last week giving the central government powers to sanction autonomous regions which are not meeting the strict budget targets.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs