IMF sees Spain missing 2012, 2013 public deficit goals
MADRID, April 17 |
MADRID, April 17 (Reuters) - The International Monetary Fund said on Tuesday it expects Spain to miss its European Union-set public deficit targets this year and next.
Spain would likely see a public deficit of 6 percent of gross domestic product in 2012, compared to a target of 5.3 percent of GDP, while 2013 would be 5.7 percent of GDP compared to a 3 percent goal, the IMF said.
"The (2012) deficit target understandably aims for a very large consolidation and is broadly appropriate, although a slightly more moderate adjustment that better accommodated cyclical developments would have been preferable," the group said in its April Fiscal Monitor.
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