MADRID, Nov 30 (Reuters) - Spain must continue with its current policy of fiscal consolidation, Prime Minister Mariano Rajoy said in a conference in Madrid on Wednesday.
“At a national level, we must maintain the policies of fiscal consolidation and control of the public deficit,” Rajoy said.
Rajoy’s government has made a number of deeply unpopular tax hikes and spending cuts over the last four years in an effort to reduce one of the highest public deficits in the European Union.
Spain aims to reduce the budget shortfall to 4.6 percent of gross domestic product this year from 5.1 percent of economic output in 2015. (Reporting by Sonya Dowsett and Angus Berwick; Writing by Paul Day; Editing by Tomas Gonzalez)