Spain say it won't reach EU deficit target until 2017
MADRID (AP) — The Spanish government is setting a new budget deficit target of 3.6 percent of GDP for 2016 and says the figure won't fall below the EU ceiling of 3 percent until 2017, a year later than planned.
The government blames the overspending on Spain's autonomous regions and plans to trim 2 billion euros ($2.3 billion) from this year's budget.
