The governor of the Bank of Spain Luis Maria Linde revises the government's forecasts downwards (-0,5%): "Additional measures will be needed to achieve the pre-established deficit objectives".
The Governor of the Bank of Spain Luis Maria Linde raises the alarm on the stability of the deficit targets and the GDP growth forecasts of the Iberian country. In a speech in Parliament Linde believes that the contraction of GDP next year will be 1,5%.
“The government's forecast of a 0,5% contraction is certainly optimistic” he says, also questioning the government's 2013 tax revenue target. Linde consequently believes that "additional measures" will be needed to meet the deficit targets.
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