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Spain revises 2011 deficit upwards to 8.9 percent of GDP
May 18, 2012 / 8:27 PM / 5 years ago

Spain revises 2011 deficit upwards to 8.9 percent of GDP

LONDON (Reuters) - Spain said on Friday its 2011 budget deficit was 8.9 percent of gross domestic product, more than the 8.5 percent initially stated, after three of the country’s regions modified their own figures.

Spain had already widely overshot its public deficit target of 6 percent for 2011.

Earlier on Friday, the autonomous regions of Madrid, Valencia and Castilla and Leon said their 2011 budget deficits were higher than initially stated. The figures were published in the regions’ 2012 budget plans.

Reporting by Sarah White; Editing Cristina Fuentes

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