Spain issues fresh warning on size of deficit

Spain’s new government warned on the 2 January 2012 that the national budget deficit for 2011 could exceed even the 8% upward revision suggested at the end of December 2011 as it set the stage for another round of austerity measures. Finance Minister Cristóbal Montoro said that the Cabinet would unveil further measures to rein in the budget deficit.

ESO: Background information: Spain warns of deficit overshoot http://www.europeansources.info/record/spain-warns-of-deficit-overshoot/

El País, 2.1.11: Cabinet to unveil further measures to trim deficit http://www.elpais.com/articulo/english/Cabinet/to/unveil/further/measures/to/trim/deficit/elpepueng/20120102elpeng_11/Ten

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