Vladimír Urbánek (Kurzy.cz)
Markets  |  August 22, 2012 12:49:00

Survey - Spain plans to cut the deficit to be met

According to analysts surveyed by Bloomberg expect that Spain fail to meet the objectives of budget cuts on the government deficit at 6.3% of GDP this year and 4.5% in 2013. The main reason for the deterioration of the economic recession in the country with a general deterioration of conditions in Europe and the absence of support from the government. A major obstacle to meet budgetary targets may be the attitude of the regional governments, which in many cases refused or boycott the general austerity measures. According to the Research Institute 17 regional governments exceed their budgets this year at about 4% of GDP, compared with 3.3% last year, and compared to the set plan to just 1.5%.
Analysts estimate that the actual government deficit this year will again reach a level of 8.9% of GDP, as in the previous year.

Fully 32% of government spending in Spain, the cost of pensions.
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Průzkum - španělské plány na snížení deficitu se nepodaří naplnit

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