Spain's budget deficit for 2011 was 8.5% of GDP, worse than the government's 8% prediction, adding to pressure on lawmakers to enact additional austerity measures

Cindy Allen

Cindy Allen

Feb 28, 2012 – Associated Press

MADRID , February 28, 2012 () – Spain says its budget deficit for 2011 has come in at 8.5 percent of GDP, even worse than the new conservative's own already pessimistic prediction.

The increase will likely ratchet up the pressure on the government to take enact more austerity measures to get the deficit down to the stated goal of 4.4 percent of GDP for this year, unless it gets some relief from the EU in the form of an easier 2012 target.

The previous Socialist government had said the deficit would come in at around 6 percent.

After taking power in December, the conservatives raised the forecast to about 8 percent.

The deficit includes revenue and spending by the central government and that of Spain's 17 regions.

© 2021 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025 795

+1 (310) 558 0008
+1 (310) 558 0080 (FAX)

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.