Jan. 9 (Bloomberg) -- Spain’s fiscal deficit for 2011 is negative for the nation’s debt rating and illustrates the challenge facing authorities in strengthening the country’s finances, Moody’s Investors Service said in its Weekly Credit Outlook today.
“Measures are required to bring Spain’s public finances back to a sustainable path,” Moody’s said in the report. “The financing and budgetary arrangements for regional governments urgently need reform, as has again been demonstrated by the large fiscal slippage in 2011.”
To contact the reporter on this story: Wes Goodman in Singapore at firstname.lastname@example.org
To contact the editor responsible for this story: Benjamin Purvis at email@example.com