MADRID: The national government of Spain has published data showing that public spending cutbacks continued to be effective in the first two months of 2015, with the deficit recorded by central and regional governments and Regional government overspending decreases across Spain Social Security falling by 4% in comparison to the same period last year. These data do not include the deficit figures for Spain’s 8,122 Town Halls.
Whereas in January and February of 2014 the deficit recorded was equivalent to 1.01% of GDP, this year the figure is reported to have decreased to 0.95%, with the improvement at regional government level being particularly notable. Last year the first two months resulted in a deficit of 1,888 million euros being accumulated by Spain’s seventeen regions, but in 2015 the total is 54% lower at 865 million euros, or just 0.08% of GDP.
The country’s central administration, meanwhile, reports a deficit in the first two months of 2015 of 11,591 million euros, which is equivalent to 1.07% of GDP (The same proportion as last year). While the State deficit fell by 5.7% to 12,214 million euros, at the same time there was a slight surplus recorded by other bodies in the central administration of 623 million.
