Linde says Spain on the path to fiscal adjustment

Madrid city council

The governor of the Bank of Spain, Luis Linde, told the Spanish Parliamentary Budget Committee on October 4 that the latest data indicates the country is achieving fiscal adjustment. Linde said Spain will end 2012 with a current account almost in balance and will "probably run a surplus" in 2013, he said.

Linde said the improved economic conditions were a result of changes in labour costs and productivity. But he said prime minister Mariano Rajoy's projection of a 0.5% decline in GDP in 2013 was

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