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Spain to meet deficit target: Economy Minister

Xinhua, November 6, 2015 Adjust font size:

Spain's Minister of Economy Luis de Guindos said on Thursday that Spain would meet this year's deficit target.

De Guindos said the Spanish government was "convinced" that the country would meet this year's deficit target, which would stand at 4.2 percent of gross domestic product (GDP), while next year the deficit would be below 3.0 percent of GDP.

Spain's deficit targets for 2016 is 2.7 percent as requested by the European Commission (EC).

The EC revised up its predictions on Thursday announcing that it expected the 2015 deficit target to stand at 4.7 percent of GDP and the one of 2016 at 3.6 percent.

De Guindos also said that growth predictions by the European Union (EU) -- 3.1 percent this year and 2.7 percent for 2016 -- confirmed the strength of Spain's economic recovery. Endit