Spain's budget deficit will hit 7% of GDP in 2012 and 5.7% in 2013, thereby missing EU-agreed...


Spain's budget deficit will hit 7% of GDP in 2012 and 5.7% in 2013, thereby missing EU-agreed targets of 6.3% and 4.5% respectively as the country recapitalizes its banking sector, the IMF forecasts. The fund adds that debt will hit 90.7% this year and 96.9% next year, well above Spanish estimates. Ten-year bond yields surge 37 bps to 6.07%.
Comments (3)
  • bbro
    , contributor
    Comments (11216) | Send Message
     
    What is the projected government debt service to total government revenue?
    9 Oct 2012, 03:57 AM Reply Like
  • winningtrader
    , contributor
    Comments (2459) | Send Message
     
    It is very high.
    Spain = Gpain = Grain = Grein = Green = Greec = Greece
    Aha ... Spain = Greece
    Where are they equal?
    - corruption
    - poor work ethics
    - low productivity
    - welfare state where everybody wants to work for the government- borrow and spend mentality ... don't worry be happy
    9 Oct 2012, 06:13 AM Reply Like
  • credit_man
    , contributor
    Comments (180) | Send Message
     
    USA=WSA=WOA=WOR=WORL=W...

     

    corruption
    poor ethics
    useless productivity
    egocentric governments using public spending to get elected
    9 Oct 2012, 11:20 AM Reply Like
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