スペイン銀行総裁、ルイス·マリア·リンデ(Luis Maria Linde)氏は、スペインの2012年の財政赤字削減目標のGDP:国内総生産の6´3%は達成出来ないだろうと発言
El Banco de España admite que hay riesgos de incumplir el déficit de 2012
Linde aboga por medidas adicionales de ajuste para garantizar que se alcanzan las metas
El gobernador afirma que las previsiones macroeconómicas para 2013 son "optimistas"
Advierte de que la actualización de las pensiones presionará aun más las cuentas públicas
El País Madrid 4 OCT 2012 - 12:42 CET
The Bank of Spain admits there are risks of breaching the deficit in 2012
Linde argues for setting additional measures to ensure that targets are met
The governor said that the macroeconomic forecasts for 2013 are "optimistic"
Warns that the updating of pensions push further public accounts
The Country Madrid 4 OCT 2012 - 12:42 CET
The governor of the Bank of Spain, Luis Maria Linde, acknowledged Thursday in Congress that there are risks of breaching the deficit targets for 2012 from the budget execution data known to date. For this reason, has warned that additional measures should be prepared to adjust in order to achieve the goal set before Brussels to lower the budget gap to 6.3% of GDP, a figure that does not account for losses caused by public support to banking.
"The deficit reduction from the peak levels reached in 2009 that is being anything but easy," remarked the governor before remembering that in 2010 and 2011 and the deficit correction "was very low" and lower than planned .
"The available information shows that there are risks of breaching the target for this year", said Linde in his speech to the Economic Committee of Congress, which these days looks the State Budget for 2013. In his opinion, "given the importance of fulfilling it, we must consider additional measures that make it possible in the framework provided by the Fiscal Stability Law".
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In this section, Linde warns that since most of the deterioration of public accounts is explained by the drop in funds coming into the state coffers, is "essential to maintain a prudent projection of revenue." In turn, calls for mechanisms to detect early deviations and calls for more transparency in the administrations, and therefore proposes that autonomy publish their data on a monthly budget execution, as does the central government. Also assessed the possibility of imposing sanctions or adjustments from the state to communities.
On the opposite side, a move that could put pressure on public finances opposite is updating pensions to the CPI, which would mean an additional outlay of 3,000 million for 2012 and another 3,000 million next year and beyond. The government should think "very seriously" the decision to be taken as "serious and important" and would impact both the deficit and GDP.
In addition, the governor has also recognized that the forecast fall in GDP of 0.5% that the government includes in its accounts for 2013 is "certainly optimistic" and remember that estimates of international organizations and analysts predict, on average, a contraction of 1.5%. If confirmed, these latest projections, has warned, the further deterioration of the economy will have an impact on the deficit of three tenths. In his opinion, the fall is more likely to be between 1% and 1.5% in the 0.5% predicted by the Executive.
Under this recessionary economic environment, Linde said that the unemployment rate expected for 2013 is 25%, "simply dramatic." "Hence the enormous importance of the economic recovery gains and flexibility of our labor market: these two pieces complement each other, and not both running at once, you can not create net employment," he adds.
On his negotiated, the financial system, the Bank of Spain governor acknowledged that "there is still some way to go in the reorganization and restructuring of the Spanish financial system." And this despite the "stress tests" to which the industry has gone, in his opinion, "is unprecedented, even for its depth and detail, nor the severity of the macroeconomic assumptions accepted" nor the scrutiny of the entire exercise by international experts.
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