Spain says will stick to deficit target timetable

Published October 11, 2012

| Reuters

Spain's Deputy Prime Minister Soraya Saenz de Santamaria said on Thursday the government would stick to the timetable to reduce it public deficit after the International Monetary Fund Managing Director Christine Lagarde said it should be given more time.

"We are in line with our calendar and meeting our deficit targets and we won't change our policy, or our targets," she said.

Spain must reduce its public deficit to 6.3 percent of gross domestic product this year from 8.9 percent of GDP in 2011.

(Reporting By Paul Day; Editing by Jesus Aguado)

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