Spanish Budget Deficit 3.64% Of GDP In H1

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Spain's central government budget deficit was EUR 38.6 billion between January and June, the Economy Ministry said Tuesday. It accounts for 3.64% of GDP. A year ago, there was a deficit of EUR 4.6 billion in the same period.

Under EU rules, current and potential Eurozone members must keep their budget deficits below 3% of GDP. The European Commission asked Spain to bring its budget deficit below the ceiling by 2012.

Spain's central government budget deficit was EUR 38.6 billion between January and June, the Economy Ministry said Tuesday. It accounts for 3.64% of GDP. A year ago, there was a deficit of EUR 4.6 billion in the same period. (Market News Provided by RTTNews)