Bloomberg News

Spain 2011 Budget Deficit to Reach 8% of GDP, Exceeding Target

December 30, 2011

Dec. 30 (Bloomberg) -- Spain’s budget deficit will reach 8 percent of gross domestic product this year, more than the previous government’s forecast of 6 percent.

“We have found a deficit figure which is much higher than what the former government had targeted,” said government spokeswoman Soraya Saenz de Santamaria at a press conference in Madrid.

To contact the reporter on this story: Angeline Benoit in Madrid at abenoit4@bloomberg.net

To contact the editor responsible for this story: Andrew Davis at abdavis@bloomberg.net


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