EU: Spain's public deficit still high at 6.6% in 2015
Arab Today
Spanish public finances are unlikely to reach EU norms by 2016, with the public deficit at 5.9 percent next year and rising to 6.6 percent in 2015, the European Commission said on Tuesday. After nine quarters in a row of recession and soaring unemployment in Spain, the Commission said weak tax revenues will leave the public finances vulnerable in the absence of a major pick-up to put the economy back on track.
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