Thursday, September 27, 2012

Spanish Budget Day

The State Budget for 2013 was presented in Congress Thursday under the threat of another rescue, and the cuts and the debt will once again make the budget more
restrictive.

 It’s being described as the most austere budget since the democracy.
 It comes under close attention of Brussels and with second rescue for the Spanish  economy possible.
It’s predicted that spending will be reduced by some €40 billion -  an amount more or less equal to the interest the Government is paying on its debt. 

In comparison last year a budget cut of was €27.3 billion
The Budget for 2013 will have a ceiling of €126.762 billion

Various Ministries will see cuts in their budgets of 12.2%. 

It ranges is from 4% in Justice and 30% in Agriculture. 
Staff in the Ministries will see a 4% cut in wages.
The Development Ministry will reduce investment in infrastructures by 22%.
The cabinet is also to announce new taxes, such as new green taxes.
The Government are to freeze the wages of Civil Servants for the third year, but public employees will see a return to the extra Christmas payment. 

All news from http://www.typicallyspanish.com

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