Search thinkSPAIN.com for  in 
spain jobs
backprinttell a friend

Rajoy defends "sovereign decision" to amend deficit target
By:
ThinkSpain , Friday, March 2, 2012

Spanish Prime Minister Mariano Rajoy has said the country will miss its budget deficit target for this year.

Mr Rajoy said Spain's deficit would be 5.8% of total economic output in 2012, higher than its agreed target of 4.4%.

He said the higher target still represented "significant austerity" and was "a sensible and reasonable decision that requires a great deal of effort, and is the result of others not reaching targets in the past".

The prime minister pointed out that the revised deficit target is still considerably lower than 2011's 8.5% deficit and added that "the aim is still to reach the 3% deficit target in 2013".

Last month he outlined 8.9 billion euros in new budget cuts, as well as tax increases designed to raise 6.3 billion euros.

But analysts said even hitting the new deficit target would not be easy.

"It's still a difficult objective in the absence of any traction in external demand," said Emilio Ontiveros at Analistas Financieros Internacionales in Madrid.

"Spain is going to depend a lot on the economic tone of its main commercial partners in the eurozone."

The country has the highest jobless rate in the EU, with almost one in four people out of work.

 
Print Share Article RSS News Feed
print tell a friend stumble it!  delicious  digg it!  facebook   rss feed View feed | Add to my RSS reader rss feed

Latest ThinkSpain News
Sierra Nevada fire may have been caused by arsonists
Crime/Incidents - (23/8/2014)
Leading mental health expert's advising serial rapists and paedophiles to 'commit suicide' sparks mixed reactions
Community/Public Services - (23/8/2014)
Government rape protection advice causes controversy: 'Sexist' or 'common sense'?
Crime/Incidents - (22/8/2014)
 
Latest Business/Economy articles
San Sebastián is Spain's most expensive city
Spain  - (19/8/2014)
Socialists call for 426-euro-a-month benefit for anyone with no income
Spain  - (6/8/2014)
Independence would cost Catalunya 4.5 billion a year, but eventually bring annual benefits of 11.5 billion, say experts
Catalonia  - (29/7/2014)
 
  back
Follow thinkSPAIN on
Facebook Twitter
 
 
 
 
 
Spanish news archive Costa Blanca news Costa del Sol news Alicante news Castellon Valencia news Barcelona news Catalonia Costa Brava news Madrid news Tenerife news Canary Islands Malaga news Marbella news Andalucia news Sevilla news Costa Almeria news Murcia news Costa Calida Aragon news Asturias news Balearic news Mallorca Menorca news Ibiza Basque news Bilbao Cantabria news Castilla La Mancha news Castilla Leon news Extremadura news Galicia news La Rioja news Navarra news Spanish Travel Tourism news Spanish Property Spain directory services Spanish A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Jobs in Spain Postcodes Spanish weather Spain History Spanish Culture Flamenco dancers Sevillanas Bullfighting bullfight bull fighting matador bullfighter Spanish Education Spain Schools Facts about Spain Clubs in Spain mortgages Spanish bank Spain banking Spanish banks Spain inheritance Spanish wills Spanish healthcare in Spain Working in Spain work Spanish employment Driving Spain cars Spanish car Spain Tax & Spanish Residency Property in Spain for Sale Spanish property to rent Spain holiday lets Spain news Spanish Properties SpainSave costa blanca 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 costa del sol 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 local news/info Spanish estate agents Off Plan property Spain | costa blanca property sales properties for sale real estate costa blanca villas | costa del sol property sales properties for sale real estate costa del sol villas | costa de la luz property sales properties for sale real estate costa de la luz villas | costa brava property sales properties for sale real estate costa brava villas | costa almeria property sales properties for sale real estate costa almeria villas | costa calida property sales properties for sale real estate costa calida villas | costa valencia property sales properties for sale real estate costa valencia villas | costa azahar property sales properties for sale real estate costa azahar villas | costa dorada property sales properties for sale real estate costa dorada villas | costa garraf property sales properties for sale real estate costa garraf villas | costa maresme property sales properties for sale real estate costa maresme villas | costa vasca property sales properties for sale real estate costa vasca villas | costa verde property sales properties for sale real estate costa verde villas | costa da morte property sales properties for sale real estate costa da morte villas
 
© 2003-2014 Think Web Content, S.L. - All rights reserved