Economy

xchrom

(108,903 posts)

63. Spain will meet its deficit target, says deputy PM

Mon Jan 23, 2012, 12:16 PM

Jan 2012

http://www.elpais.com/articulo/english/Spain/will/meet/its/deficit/target/says/deputy/PM/elpepueng/20120120elpeng_6/Ten

Deputy Prime Minister Soraya Sáenz de Santamaría reaffirmed on Friday that the government will meet its target deficit figure of 4.4 percent of GDP by the end of the year.

The PP government number two made her statements after Finance Minister Cristóbal Montoro was quoted in a newspaper saying that the forecast was based on obsolete growth forecasts.

Rebutting Montoro, Sáenz de Santamaría said that "the government has a definite determination to comply with the deficit." She said that in the "upcoming Cabinet meetings" the PP administration of Mariano Rajoy plans on introducing a series of reforms to help the country's finances. "If the situation warrants more reforms, then we will introduce them," she said.

Rajoy's economic advisors said that Spain's deficit for the end of 2011 would be greater than eight percent of GDP ? two notches above the previous Socialist government's goal of six percent.

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