On Tuesday 17 January, the European Commission gave a mostly favourable opinion to the draft revised Spanish budget 2017, taking the view that it is overall in line with the Stability and Growth Pact.
According to the European institution, the budgetary measures taken by the new Rajoy government – including an increase in corporate taxation – have significantly increased the likelihood that the targets for reducing the government deficit in 2016, currently standing at 4.6% of GDP, and...