News Headline Summary

Spain Budget Balance YTD (Oct) -43.40bln (Prev. -46.11bln)

- Central Jan-Oct like-for-like deficit at 3.92% of GDP
- Jan-Oct budget deficit at 4.13% of GDP.
- Oct VAT revenue rises 5.4% vs year ago.

Analysis details (11:16)

- Yesterday it was reported citing EU Commission that Spanish deficit to widen to 6.4% in 2014. This follows comments from EU's Rehn earlier in the month who said that the nation’s steps to reduce its 2014 deficit are falling short. Olli Rehn also said that Spain's financial forecasts for that year are overly optimistic.

27 Nov 2012 - 11:11 - Bank Speaker - Source: Newswires

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