Spanish Deficit Doesn’t Look Any Better as Penalty Looms: Chart

Spain is about to find out if it’s going to be penalized for missing European Union deficit targets, and the future doesn’t bode well: While the nation’s government is projecting a narrower shortfall of 3.6 percent of gross domestic product this year -- down from 5.1 percent in 2015 -- no one is buying it. The European Commission, OECD and the central bank all see worse numbers, with the Spanish budget watchdog -- which was the most accurate forecaster on last year’s miss -- predicting a deficit of as much as 4.7 percent.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.