On Friday 14 October, the Spanish and Portuguese governments published their draft budgets for 2017 that they have to submit to the European Commission by mid-October.
Spain still has a caretaker government so the draft budget for 2017 is simply an extension of the 2016 budget without any specific measures for cutting public debt. Based on a growth forecast of 2.3% in 2017, growth is expected to reach 3.6% of GDP in Spain next year. In August, when it granted Spain two more years to...