January 17, 2021

Brussels warns Spain by letter that it may not meet the goal of structural deficit – The Province

Brussels warns Spain by letter that it may not meet the goal of structural deficit - The Province


The European Commission has already sent the letter to the Government requestingclarifications on the budget draftof 2019 and warns you thatSpain runs the risk of breaking the structural effortdeficit reduction required by European fiscal rules for next year.

"The structural effort planned in 2019 amounts to 0.4% of GDP.This effort is below 0.65% of the required GDPon the recommendation of the Board of June 13, 2018. Based on the limited information available, we can not exclude a risk of some deviation with respect to the effort required, "the text states.

Brusselshopes to continue the "constructive dialogue"with the Spanish authorities during the next few days and awaits a response from the Executive at the latest on Monday, October 22.

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