OECD Says Spain to Meet Budget-Deficit Goal in 2011
This article is for subscribers only.
Spain will meet its budget-deficit goal next year even if growth undershoots the government’s target, and the country’s banks don’t pose a risk to the sovereign’s solvency, the Organization for Economic Cooperation and Development said.
Even if growth doesn’t reach the 1.3 percent forecast by the government, “we still think that the 6 percent deficit can be reached,” OECD economist Andres Fuentes said in an interview with Bloomberg Television today. “There’s no risk that government support for banks would have to take proportions that would endanger in any way the solvency of government finances.”