Deficit under control in Spain

ACTING Prime Minister Pedro Sánchez has said Spain’s public deficit is controlled. 

He told Congress that the nation’s deficit will close the year at 2 per cent of GDP and expects that the economy will have grown by 2.2 per cent by the end of 2019. 

Replying to criticism from the President of the PP, Pablo Casado, who pointed out that “inertia is over” and asked him to “fix Spain”, Sanchez said: “For your peace of mind, Mr. Casado, the deficit is under control. At the end of 2019 it will be 2 per cent of GDP, a reduction of 0.5 points compared to 2018. We must be doing something right.” 
Sanchez has recognized a cooling of the economy, blaming “trade tensions” and the adoption of protectionist policies by countries like the United States. 

But he referred to estimates from the European Commission and said that “Spain will continue to grow and lead” the European economy.  
He also cited AIReF estimates of growth of 0.5 per cent in the third and fourth quarters of this year, saying they are “sufficient to reach without problems the Government’s forecasts of 2.2 per cent.” 

He added that these are serious and rigorous forecasts, with the Spanish government taking a cautious line on predictions. 

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Written by

Dilip Kuner

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