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Spain budget deficit for the first half amounted to 3.81% of GDP

Spain budget deficit for the first half amounted to 3.81 per cent of GDPAccording to the fiscal authorities of Spain, the deficit in its budget for the second quarter of 2013 was fixed at EUR 40 billion, accounting for 3.81% of GDP. At the finish of the first half of 2012 the same figure was 4.15% of the gross domestic product.

Of these 40 billion, € 13,984 billion accounts for interest payments on loans, which is 14.4% higher than a year before. If these payments are not taken into account, the remaining amount of the deficit – 26.017 billion €, which is 17% lower than the same figure of the same period last year.

“The figures confirm our words about braking downs of the economy – the head of the Ministry of Taxes Cristobal Montoro. – The country came to the point a sharp breaking economic processes. We see that it begins to strengthen and growth, as evidenced by the continued and several months of unemployment reduction.”

Category: News