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Spanish deficit stands at 5.7 pct of GDP in 2014: gov't official

Xinhua, March 28, 2015 Adjust font size:

Spanish public deficit stood at 5.7 percent of the country's gross domestic product (GDP) in 2014, according to provisional data unveiled on Friday by Spain's Deputy Prime Minister Soraya Saenz de Santamaria.

Saenz de Santamaria made this announcement at a press conference after a cabinet meeting where she pointed out that the figure was below the Spanish deficit target of 5.8 percent required by the European Union (EU).

However, the deficit stood above the Spanish government's goal of 5.5 percent. According to Saenz de Santamaria, the 0.2 percent deviation was due to a tax on fuel that had to be refunded following a judicial decision.

Otherwise, Spanish deficit would have stood at 5.56 percent, Saenz de Santamaria said.

The state deficit was at 3.54 percent of Spain's GDP while the deficit of Spanish regions, Autonomous Communities, stood at 1.66 percent, which was above the deficit target of 1.0 percent. Endit