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Spain’s Campa Says Funding Position Is ‘Comfortable’

Spain’s funding for the rest of the year remains “comfortable,” helped by better-than-forecast revenue and a shrinking budget deficit, and the government doesn’t expect problems tapping financial markets going forward, said Deputy Finance Minister Jose Manuel Campa.

Spain, which saw its borrowing costs surge to an eight-year high today, has two more bond auctions scheduled this year. The Treasury will sell three-year debt on Dec. 2 and 10- and 15-year securities on Dec. 16, and has about 8 billion euros ($11 billion) still to raise this year, according to the state borrowing plan.