Tue, 28 Feb 2012 07:15:23 GMT
Spain's budget deficit for 2011 missed target level
Spain failed to fulfil its target budget deficit ratio for year 2011, putting pressure on government to seek news ways of reducing debt. Although the deficit eased from 9.3% of GDP in 2010 to 8.5% in 2011, it still is above set target of 8.0%. The official deficit target rate in EU is 6.0%. EU set an aim for Spain to reach