MADRID, Oct. 4 (Xinhua) -- Governor of the Bank of Spain Luis Maria Linde said Thursday that the country might not fulfill the deficit target required for 2012 by the European Union (UE).
Linda, who was at the Spanish parliament analyzing the General State Budget 2013 adopted last Friday by the government, said it will be difficult for Spain to achieve the deficit target, considering data of the budget implementation.
He also added that "taking into account the importance of achieving the deficit target, additional measures should be considered," which means more cuts needed in order to reach the deficit target required by Brussels.
However, Spanish Minister of Economy and Competitiveness Luis de Guindos said on Wednesday that even asking for a bailout, Spain would not need more adjustments than those that were already on the agenda.
Moreover, Linde branded the estimate of the fall of the GDP in 2013 made by the government as "certainly optimist".
The Spanish government predicts that the GDP will fall by 0.5 percent in 2013, but Linde pointed out that other analysts and international organizations predicted a 1.5 percent GDP contraction.
Linde foresaw the GDP contraction between 1 percent and 1.5 percent.
The governor called to regain credibility in the process of fiscal consolidation because doubts must be dispelled in order to reduce uncertainty of economic operators.
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