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Spain parliament ratifies deficit reduction actions

Published 12/14/2010, 04:58 PM
Updated 12/14/2010, 05:00 PM

MADRID, Dec 14 (Reuters) - The Spanish parliament ratified economic measures late on Tuesday that added weight to a wide-reaching plan to reduce the yawning public deficit and stimulate growth.

The measures, which include tax changes for small- and medium-sized businesses, the partial sale of the state-held airport management company AENA and the national lottery group and increases in tobacco taxes.

The minority Socialist government passed the bill with the backing of the small Basque nationalist party (PNV) and the Canary Island coalition (CC).

The government has said it will reduce its public deficit, one of the largest in the euro zone, to 6 percent of gross domestic product by the end of 2011 from 11.1 percent of GDP in 2009. (Reporting by Manuel Ruiz; writing by Paul Day; editing by Tim Pearce)

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