July 31, 2012

Central government's deficit exceeds its target for entire year

The Spanish central government’s deficit in the first six months of 2012 exceeded its target for the full year as Madrid was obliged to step up transfers to the regions and other public administrations in order to prevent a liquidity crunch and as the recession took a toll on revenues.

The shortfall in the government’s finances widened to 4.04 percent as of the end of June from 3.41 percent as of the end of May. Read more.

El País

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