The European Commission did not want to meddle with Spain’s general elections on June 26th and has postponed until July its decision regarding a sanction for the country’s non-compliance with its deficit target. But none of the European community experts have ventured to confirm that this sanction will finally be imposed.
Spain’s public deficit
Ofelia Marín-Lozano | Spain’s public deficit stood at 5.18% of GDP, missing the target set by Brussels (4.2%) by one percentage point. So the deficit should not be higher than nominal GDP growth, which can be estimated at around 3% in the long term.