(ANSAMed) - MADRID, AUGUST 3 - In a combination of increased
revenues and spending cuts, the Spanish government foresees
cutting 13.118 euros in 2012, 29 billion euros in 2013 and 50.1
billion euros in 2014, according to the 2013-2014 budget it sent
the EU in exchange for an extension on its deficit-reduction
deadline.
This equals 102.149 billion euros over three years, or 10% of national GDP. The cuts are 50% higher than those previously announced by the Rajoy administration. (ANSAMed).
This equals 102.149 billion euros over three years, or 10% of national GDP. The cuts are 50% higher than those previously announced by the Rajoy administration. (ANSAMed).
