Economics
Spanish Premier Dares Opposition to Vote Down Spending Increase
- Cabinet approves budget to be presented to European Union
- Government still needs to win backing for budget in parliament
Photographer: Angel Navarrete/Bloomberg
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Spain’s Socialist government stuck to its pledge to loosen deficit targets for next year, challenging the opposition People’s Party to wield its Senate veto against plans to help voters weary of years of austerity.
The administration will target a budgetary shortfall in 2019 of 1.8 percent of GDP, compared with 1.3 percent reported to the European Commission by the former PP government, Economy Minister Nadia Calvino said at a press conference in Madrid. It also trimmed its forecast for growth next year to 2.3 percent from 2.4 percent.