Spain Won’t Adopt Further Austerity Measures as Deficit Halves

Spain said it doesn’t need to adopt further austerity measures to stem a surge in borrowing costs as the central government’s budget gap narrowed by almost half. Spain’s central government budget deficit fell to 2.96% of GDP in the first 10 months from 5.63% a year earlier as tax revenue rose 10.9%, the Finance Ministry said in a statement in Madrid. – Bberg