|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

Spainís Deficit to Decline 2010, Government Says

MADRID Ė The cumulative budget deficit of Spainís national, regional and municipal administrations will be equivalent to 9.8 percent of gross domestic product in 2010, down from 11.4 percent of GDP last year, the central government said Wednesday.

That projection is included in the 2009-2013 Stability Program the Spanish government provided to the European Commission, the executive arm of the 27-member European Union.

Spain will gradually reduce its deficit-to-GDP ratio, meeting the EU target of 3 percent by 2013, the document says.

Sources in the Economy Ministry told Efe that the figures on regional and municipal deficits represent provisional estimates, as those levels of government set their own budgets.

The Stability Program also forecasts that Spainís ratio of total public debt to GDP will continue its upward trend, reaching 74.3 percent in 2012.

The Spanish debt-to-GDP ratio last year was 55.2 percent, compared with a median of 78.2 percent for the EU as a whole.

Spanish officials acknowledge in the document that the ratio of total public debt to GDP could grow as large as 77.7 percent by 2012 if interest rates rise by more than one percentage point.

In a related development, survey results released on Wednesday show Spaniards are becoming more upbeat about their own economic prospects and those of their country, where the unemployment rate is nearly 20 percent.

The Consumer Confidence Index, or ICC, stood at 78.7 last month, up four points from December and 28.6 points from January 2009. The index ranges from zero to 200, and a score above 100 is viewed as positive.

The figure indicates consumers believe the worst of the recession is over and that private consumption could rise this year in Spain, according to the Official Credit Institute, which surveys 1,000 adults nationwide to compile the ICC survey. EFE
 

 

Xbox Live Gratuit
Copyright Latin American Herald Tribune - 2009 © All rights reserved