Spain given 2012 deficit goal of 5.3%

The euro group of finance ministers wants Spain to reduce its deficit to 5.3 per cent of gross domestic product this year.

13th March, 2012
Spain given 2012 deficit goal of 5.3%
Spain: target eased.

The euro group of finance ministers wants Spain to reduce its deficit to 5.3 per cent of gross domestic product this year.

This target replaces a 4.4 per cent deficit originally targeted but will require tougher budgetary action from Spain.

Spain has said it will only be able to reach a deficit of 5.8 per cent of gross domestic product this year. It is aiming to get the deficit back to three per cent in 2013.

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