Spain: minister, Q1 deficit targets met

24 April, 19:09

    (ANSAmed) - MADRID, APRIL 24 - Spain has already met its deficit-reduction objectives for the first quarter of this year: to bring it down from the 8.5% of GDP in 2011 to 5.3% set for 2012. So confirmed the country's Finance Minister, Cristobal Montoro, in a reply given to Congress during a budget debate to PSOE leader Alfredo Perez Rubalcaba. The minister presented an amendment to the overall balance.

    Montoro revealed that public debt as registered between January and March was at 0.83% of GDP, in line with the set objectives.

    The Minister also blamed the previous government under Jose' Luis Rodrigo Zapatero of having brought the country into its present difficulties. ''They took this country to the 2010 limits. The left us a country whose credibility was in question, and we have to regain this credibility,'' the Minister added.

    The opposition PSOE party leader had called the 2012 budget forecasts ''useless, impoverishing the country, and unjust''.

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