Bloomberg News

Spain Sees Regions Deficit at 1.5 Percent of GDP

March 02, 2012

(Corrects regional and central government deficit target in first paragraph).

Spain is targeting a deficit for its regions of 1.5 percent of gross domestic product in 2012, Budget Minister Cristobal Montoro said in Madrid today. That compares with a previous forecast of 1.3 percent.

The country set a spending limit at 118.6 billion euros ($157 billion), down 4.7 percent from last year, Montoro said. The target for the 2012 central government budget deficit was set at 4 percent, he said. The government also forecast that the social security administration will have a balanced budget this year.

To contact the editor responsible for this story: Marco Bertacche at mbertacche@bloomberg.ne


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