🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

UPDATE 1-Spanish Jan-March fiscal deficit 0.7 pct GDP

Published 04/28/2009, 07:35 AM
Updated 04/28/2009, 07:40 AM

(Adds details, background)

MADRID, April 28 (Reuters) - Spain's fiscal deficit totalled 0.69 percent of gross domestic product in the first three months of the year, the Economy Ministry said on Tuesday.

The 7.586 billion euro ($9.87 billion) shortfall compared to a 3.387 billion surplus in the first three months of 2008, the ministry said in a news release.

The Ministry added in a statement that its net tax take in the first quarter fell by 11.9 percent from the same period last year to 45.550 billion euros, while non-financial outlays jumped by 15.5 percent to 42.614 billion.

Public sector borrowing requirements rose to 28.694 billion euros from 4.523 billion.

The government predicts its budget deficit will widen to 5.8 percent of GDP this year due to the impact of the recession and anti-crisis spending plans, although the Bank of Spain has forecast a gap of 8 percent. (Reporting by Manuel Maria Ruiz; writing by Jason Webb; Editing by Ron Askew)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.