Spanish treasury minister rules out fresh budget cuts

MADRID Thu Feb 28, 2013 6:46am EST

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MADRID Feb 28 (Reuters) - Spanish Treasury Minister Cristobal Montoro said on Thursday that the government does not need to implement fresh budget-cutting measures this year to meet deficit targets.

Montoro was speaking at a news conference where he announced that the 2012 public deficit came to 6.74 percent of gross domestic product, missing an official target of 6.3 percent but at a level that will probably be considered reasonable given a deep recession.

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