Crisis: Spain; cabinet says it will not meet deficit target

03 December, 12:14

(ANSAmed) - Madrid, December 3 - The Spanish government on Monday admitted it will not meet its budget deficit target for 2012 set at 6.3%of GDP, an estimate which should be corrected to 7% of GDP at the end of the year, sources in the conservative government of Mariano Rajoy were quoted as saying by radio Cadena Ser. According to the sources, Spain will also not meet its budget deficit target for 2013, which should be modified from the 4.3% forecast to 6% of GDP.

In an interview to La Razon daily published on Sunday, Rajoy did not guarantee that Spain would meet its targets in spite of harsh security measures imposed on the population. 'Our objective is to do things well and we will see what happens at the end of the year', the premier said. The 7% estimate had been anticipated on Saturday by the vice-president of the European Commission Olli Rehn. (ANSAmed)

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