SPANIARDS are bracing themselves for more tough austerity measures with the government set to announce its latest budget on Thursday.
The reforms will include spending cuts, tax rises and a freeze on pensions aimed at addressing a €60 billion shortfall in the economy caused by the collapse of the property market.
The tightening of the country’s collective belt will also help Spain meet the terms which are being imposed by the EU before a bailout will be granted.
The timescale of any request for financial help by Spain remains unclear, with doubts remaining over whether Madrid will need it.
The reforms are not expected to ease Spain’s 25% unemployment, with some analysts predicting the figure could rise to 26.5% next year.
- Fake Ferrari gang busted in Spain - 31 Jul, 2013 @ 19:33
- Sunday shopping for cruise passengers in Malaga - 30 Jul, 2013 @ 19:40
- Socialists demand Rajoy resignation over payment scandal - 3 Feb, 2013 @ 22:18
- Spanish border police accused of discrimination by Gibraltar MEP - 3 Feb, 2013 @ 21:25
- Donana under threat from gas extraction - 3 Feb, 2013 @ 09:30
- Duchess of York’s friend killed in Marbella blaze - 3 Feb, 2013 @ 09:00
- Massage therapy on rise in Spain - 2 Feb, 2013 @ 15:34
- Spanish art fair pays collectors to attend - 30 Jan, 2013 @ 12:38
- Fresh ideas - 29 Jan, 2013 @ 14:00
- Fighting the fat in Spain - 29 Jan, 2013 @ 11:02