Spain will be given another year to meet its deficit targets, according to sources. Previously...

|By:, SA News Editor

Spain will be given another year to meet its deficit targets, according to sources. Previously expected to reduce its budget deficit to 3% of GDP by 2013's end, the country will only have to pare it down to 4.5%. The numbers show no more than bureaucratic sense of humor, but the fact is Spain is being forced to slash spending and raise taxes amidst recession.

Subscribe for full text news in your inbox