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- European Commission: Spain should adjust its budget plan
European Commission: Spain should adjust its budget plan
The European Commission said in its statement on Monday that Spain will not meet its deficit targets. According to the Spanish Draft Budgetary Plan (DBP), Spain expects the general government deficit to fall to 4.2% of GDP this year and 2.8% in 2016. But the European Commission forecasted that the government deficit to decline to 4.5% this year and to 3.5% of GDP in 2016.
The European Commission said that Spain should "ensure that the 2016 budget will be compliant with the Stability and Growth Pact".
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