BRUSSELS (MNI) – The European Commission on Friday said that it was
not questioning the accuracy of Spain’s economic statistics but was
simply seeking more detailed information.
“We have no reason to doubt Spain’s figures”, a spokesman for the
Commission told journalists.
A team of technical experts dispatched to Madrid this week was
there on routine business, taking part in a regular ongoing dialogue on
technical issues, the spokesman said.
Last week, Spain unilaterally declared that it was abandoning the
4.4% budget deficit target for this year that it agreed with the EU and
would instead aim for a more modest reduction to 5.8% of GDP.
The move came after the new government said that the budget deficit
for 2011 stood at 8.5% of GDP.
The Commission spokesman also said that it was seeking more
information from Hungary on the measures that the government plans to
undertake to correct its excessive deficit.
EU finance ministers meeting in Brussels on Tuesday are expected to
back a recommendation from the Commission to withhold almost E500
million in EU development aid to Budapest to punish the country for
failing to comply with EU deficit rules.
–Brussels newsroom: +324-9522-8374; pkoh@marketnews.com
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