Spain's fiscal targets should be eased

Content Type
Policy Brief
Institution
Oxford Economics
Abstract
The Spanish government has announced that the fiscal deficit for 2011 may be even worse than expected, perhaps even exceeding 8% of GDP. In response to this overshoot, the authorities have so far announced additional spending cuts and tax rises amounting to €15bn. But fiscal tightening will have to be even more severe if the government wants to meet its 4.4% of GDP deficit target for 2012.
Topic
Debt, Economics, Government, Monetary Policy, Financial Crisis
Political Geography
Spain