Recession will see Spain miss deficit goals, says IMF

The International Monetary Fund predicted on the 24 January 2011 that Spain would fall short of its deficit reduction targets, just hours after the government reiterated its determination to meet the goals despite an impending recession.

The Bank of Spain forecast the country's economy would contract by 1.5% in 2012, fuelling concerns over its ability to rein in spiraling debt

Deutsche Welle, 23.1.12; Spain faces recession as economy is due to shrink in 2012 http://www.dw-world.de/dw/article/0,,15685385,00.html

Bank of Spain: Economic Bulletin http://www.bde.es/webbde/en/secciones/informes/boletines/Boletin_economic/anoactual/

IMF: Country Reports: Spain and the IMF http://www.imf.org/external/country/ESP/index.htm

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