Spain’s Public Deficit Reaches Eighteen Point Six Billion Euros

Spain’s public deficit has increased to 18.6 billion euros, or 1.11 per cent of gross domestic product, as tax revenues rise.

The deficit has grown by 3.6 per cent between January and May compared to last year, largely due to extraordinary expenses related to last Octobers floods.

Conversely, autonomous communities have managed to reduce their deficit by one point seven per cent, totalling ten point one billion euros, which represents six per cent of GDP.