Over optimistic Spain misses deficit target… again

Over optimistic Spain misses deficit target… again

Spain’s conservative government predicted last year that it would reduce its deficit to 4.2 percent in 2015 and then to 2.8 percent in 2016 – forecasts that EU finance commissioner Pierre Moscovici said were “a bit optimistic”.

“The budget deficit was lowered in 2015 to 5.16 percent from 5.8 percent. It is therefore a new reduction of Spain’s public deficit, but it is insufficient,” Montoro told a news conference.

The deficit overshoot, one of the highest in the European Union, could raise pressure on Spain’s acting government to adopt painnful new austerity measures……

About Kristjan

Defitsiidi terrorismi vastase pataljoni eriüksuslane (finantsignorantsuse vastu võitlemise osakond). Treening: MMT, postkeinsism, Tartu Ülikool Majandusteadus
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