Spain can easily cut 0.5% more: finance minister
Tuesday 13 March 2012
Spain can easily cut a further 0.5% from its budget deficit, finance minister Jan Kees de Jager told the press late on Monday night, reports news service Dow Jones.
De Jager was speaking after the meeting during which the Spanish budget deficit was discussed.
'Spain clearly deviated from its proposal about its goals,' the minister said. 'It is very possible that Spain can cut a further 0.5%. This is now being discussed by the Spanish government.'
Earlier this month, Spain said it would reduce its budget deficit to 5.8% of its gross domestic product, up from the 4.4% already agreed. The eurozone ministers now want a further 0.5% in cuts.
The Dutch deficit, due to reach 4.3% in 2013, was not discussed, De Jager told the press. The Netherlands has been told to reduce its deficit to 3% by next year.