Spain's new government said on Friday the public deficit for 2011 would come in at 8 percent of gross domestic product, well above a target of 6 percent, and announced income and property tax hikes and a civil servant wage freeze in response.

Sections:  world   
Topics:  deficit   europe   europe debt   europe debt crisis   gdp   spain   tax hikes   
  • Spain education sector hit by strike against cuts
    Thousands of students and teachers staged a strike across Spain on Thursday to protest government austerity measures and a planned new education reforms. More
  • In Germany, a U.S. beer invasion
    Almost 65 years after Allied planes flew Western supplies into blockaded Berlin, a new American import is arriving by air: craft beer. The beer is being flown in as part of a new surge of German interest in American brewing, upending a centuries-old relationship in which German beer defined the golden standard for brewing and Americans emulated it. More
  • Cyprus parliament approves bailout
    Cyprus' lawmakers approved on Tuesday a multi-billion bailout agreement with international creditors aimed at preventing the crisis-hit country from going bankrupt. More
  • Baby food shortage in Europe due to China demand
    Yong-Hee Kim still can't believe that in a prosperous country like Germany, powdered baby formula would ever be rationed and that she would have to scour shops in the German capital to find the right brand for her 13-month-old son. More
  • Swedish police find drugs on Bieber tour bus
    The latest chapter in Justin Bieber's European tour escapade was added Thursday when Swedish police said they had found drugs and a stun gun on the pop singer's bus. Lars Bystrom, spokesman for the Stockholm police, told The Associated Press a small amount of drugs and a stun gun were discovered during a search of the bus, which had been parked under the Globen concert venue in Stockholm, where Bieber was performing Wednesday. More
  • Spain's Economy is Growing, but Leaving Most Spaniards Behind
    In 2015, they grew twice as fast as was expected. So, what did they do ... In other words, it ran bigger deficits than it was, it ran deficits, it increased its structural deficit spending, and it violated the terms that the government agreed to with ...
    09/25/2017 - 6:12 am | View Link
  • Elections buy Spain more time on EU finance rules
    Earlier this month, the commission said in its Spring Forecasts it expected Spain's deficit to reach 3.9 percent of GDP this year and 3.1 percent in 2017. Since the December election, "there is no government to implement measures that would be necessary ...
    05/18/2016 - 6:43 am | View Link
  • Spain registers bigger-than-expected deficit miss in 2015
    Spanish officials had already suggested in recent weeks that overspending in the country's autonomous regions and a bigger-than-expected gap in social security revenues would likely nudge the deficit higher. But caretaker Prime Minister Mariano Rajoy ...
    03/30/2016 - 1:00 pm | View Link
  • Spain Slashes Economic Growth Forecasts
    The deficit is now forecast to reach 6.3% of GDP in 2013 - well above earlier targets - but would fall to 2.7% by 2016, Mr de Guindos added. The unemployment rate - which hit a record high of 27.2% in the first quarter of this year - is expected to fall ...
    04/26/2013 - 7:19 am | View Link
  • FTSE CLOSE: Markets buoyed by hopes for eurozone action to help Spain and Italy
    He added: 'Investors are hopeful that the ECB will respond soon, providing risk assets support which is expected to continue into the run ... was under pressure after pre-tax profits fell by 27.2 per cent to £7.5 million in the six months to June 30 ...
    08/20/2012 - 4:25 pm | View Link
  • More
  • Portugal unveils ‘crisis tax’ to cut deficit
    Portugal unveils ‘crisis tax’ to cut deficit. ... including a “crisis tax” on wages and big companies on Thursday as part of a plan to ... moves by Spain, ...
    10/16/2017 - 9:02 am | View Website
  • Spain says deficit bigger than expected, hikes taxes ...
    Spain's new government said on Friday that this year's budget deficit would be much larger than expected and announced a slew of surprise tax hikes and wage freezes ...
    10/11/2017 - 8:49 pm | View Website
  • Spain registers bigger-than-expected deficit miss in 2015
    Spain missed its public deficit target for 2015 by far more than the European Commission and many analysts had expected, in spite an economic rebound and assurances ...
    03/31/2016 - 7:03 am | View Website
  • Spain Unveils Sweeping Cuts on Income, Corporate Taxes
    Spain unveiled a sweeping package of tax cuts, seeking to lower the fiscal burden on the middle-class before general elections due in less than two years.
    06/20/2014 - 9:20 pm | View Website
  • Spain Says 2012 Deficit Is Bigger Than First Estimated
    The Spanish government said its 2012 budget deficit will be bigger than first estimated after the European Union requested changes in how tax claims are computed.
    03/27/2013 - 6:51 am | View Website
  • More

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More World News