Bloomberg News

Juncker Expects Spain to Reach Its 2013 Budget-Deficit Goal

March 12, 2012

Spain will reach its goal of getting its budget deficit within the European Union’s limit next year, said Luxembourg Prime Minister Jean-Claude Juncker, who also heads the group of euro-area finance chiefs.

Finance ministers meeting in Brussels today and tomorrow won’t take any decision on Spain’s new proposed 2012 deficit target of 5.8 percent of gross domestic product, Juncker told reporters. Spain aims to reduce its deficit to the EU limit of 3 percent of GDP in 2013. Juncker also said he doesn’t see a link between Spain’s economic situation and that of Greece.

“We assume that Spain will and wants to meet its budget target for 2013,” he said. “We’ll talk about the concrete measures that have to be taken” with a view to the 2012 budget.

Asked about progress on lending capacity for the region’s permanent rescue fund, the European Stability Mechanism, Juncker said ministers “will discuss the broad subject today but no decision will be taken.”

“I will propose that a decision will be taken on the occasion of the euro group meeting at the end of the month in Copenhagen,” he said.

To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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