From time to time I visit the page where the internal comptroller in Spain posts its budget deficit figures. Last week there was a link to the calendar of future publications. The calendar was last updated past September, and didn´t show anything for 2013. Usually at the end of January appears 3rd quarter budget deficit. So when January ended with no new data, I knew the figures would be bad.
And they are terrible.
Take this document, and sum up deficit for the first three quarters of 2012.
Now take the data for the GDP
And now get the percentage.
Budget deficit for 3Q2012 was 8.37%. Down from 8.54% 2Q2012. And a commitment of 6.3% in Q42012
Yes, I know I wrote central government budget deficit was going great. I don´t what have happened. Maybe financial institutions help. Probably regional deficit. Who knows.
First published here