SPAIN: The EU confirms that the Spanish deficit closed 2014 at 5.7% – EntornoInteligente

Cinco Dias / These data imply that the country met and improved in tenth the target set by Brussels for the past year (5.8% of GDP), in a year in which also accumulated a debt of 97.7% of GDP.

The Community Office calculated according to their statement that the Spanish deficit rose to 61.391 million euros in 2014. Eurostat data assume that all the Spanish government met the deficit target with Brussels but exceeded the 5.5% it had forecast the Government in the Stability Programme submitted to Brussels.

Spain had already predicted that the country ended last year with a deviation of 5.72% (60,537,000 ), and from the Government were influenced deducted if “exceptional and temporary circumstances” such as the impact of devolution of health cent (1,699,000), the deficit would have been 5.56% of GDP. Thus, Eurostat worsens tenth forecasts submitted by the European Commission (EC) in February, it considered that the Spanish deficit would stand at 5.6% in 2014.

Spain achieved and meet the target set by Brussels within the beaten path for the country to restore compliance with the 3% deficit established in the Growth Pact and European Stability. To perform this rebalancing their accounts, Spain received a two-year extension, so that should close 2013 at 6.5%, to reach 5.8% in 2014 to 4.2% in 2015 and 2.8% in 2016.

In addition, the Spanish government debt rose to 1,033,857 million in 2014, representing 97.7% of the country’s GDP, which amounts to 1,058,469 million euros, according to EU statistics office.

The latest data from Eurostat also show that the deficit has been reduced in all countries of both the euro area and the EU European (EU), standing at 2.4% and 2.9% on average, respectively. Twelve countries have exceeded the maximum of 3% set in the Stability Pact Growth for the deficit: Cyprus (8.8%), Spain (5.8%), Croatia and the United Kingdom (both 5.7% ), Slovenia (4.9%), Portugal (4.5%), Ireland (4.1%), France (4%), Greece (3.5%), Belgium, Poland and Finland (all 3, 2%).

Eurostat and confirms that France has managed to leave its deficit at 4% of GDP, had advanced the National Institute of Statistics (INSEE), compared to 4.1% in 2013 and below the 4.4% that the Government had planned for this year.

By contrast, Denmark achieved a surplus of 1.2%, followed by Germany (0.7%), Estonia and Luxembourg (0.6%).

As for the public debt, the trend was upwards both members of the single currency as in the whole Union.

Specifically, debt rose from 91.9% of GDP in the euro countries in 2014 from 90.9% in 2013, while in the Veintiocho came to 86.8% compared to 85.5% . a year before

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