Commission unconvinced by Spain’s deficit reduction efforts

A team of the European Commission, in liaison with staff from the European Central Bank, carried out the fifth post-programme surveillance visit to Spain on 11-13 April 2016.

While measures to reduce the country's budget deficit were seen as 'a step in the right direction', the EC considerd budget consolidation was being slowed and some of the structural adjustments overturned.

ESO: Background information: EU calls on next Spanish government to extend economic reforms http://www.europeansources.info/record/eu-calls-on-next-spanish-government-to-extend-economic-reforms/

ESO: Background information: Commission adopts opinions on the 2016 draft budgetary plans of euro area Member States http://www.europeansources.info/record/press-release-commission-adopts-opinions-on-the-2016-draft-budgetary-plans-of-euro-area-member-states/

European Commission: DG Economic and Financial Affairs: Press statement following the fifth post-programme surveillance visit to Spain http://ec.europa.eu/economy_finance/articles/eu_economic_situation/2016-04-18-statement-spain_en.htm

El País, 19.04.16: Government raises forecasts for deficit and unemployment rate http://elpais.com/elpais/2016/04/19/inenglish/1461070415_127077.html

El País, 19.04.16: Spain negotiates one-year extension with Brussels to rein in the deficit http://elpais.com/elpais/2016/04/19/inenglish/1461051803_206142.html

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