Spain receives warnings about the debt by the ECB and the EU – Investing.com Spain

FRANKFURT (Reuters) – The fiscal adjustment in Spain has stopped, said on Tuesday the European Commission and the European Central Bank in a joint statement, warning that the country’s deficit was among the highest in the euro zone.

“the ratio of public debt / GDP declined slightly in 2015, but its high level is still a burden for the economy,” said both institutions, after examining the economy Spanish.

“the necessary progress in fiscal consolidation has stopped, with a reversal of part of structural adjustment implemented in previous years,” they said.

“As a result, deficit target of 4.2 percent (of GDP) has been breached it for a long margin and the general government deficit of 2015 is among the highest in the euro zone, “he added.

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