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Council Of Ministers

The Council of Ministers approves the expenditure ceiling for 2012, which will be at 117.353 billion euros, 4.669 billion less than this year. This the Government intended to reduce the government deficit from 4.8% expected in 2011 to 3.2% that it has been set for the coming year. The Government reestablishes the limit at 120 km/h on motorways. The spending limit financial of the State for the year 2012 budget will not fall by 3.8% and will be at 117.353 billion euros, 4.669 billion less than the more than 122,000 million approved last year. This have announced the first Vice-President and Minister of the Interior, Alfredo Perez Rubalcaba, and Minister of economy Elena Salgado, during the press conference after the Council of Ministers on Friday. The ceiling of expenditure for 2012 is the first step in the elaboration of the General State budget (PGE) next year.

Once approved, it will send to the lower House and the Senate, which will take them to return back to the Congress for final approval. With This limit of expenditure, the Government aims to reduce the State deficit from 4.8% expected in 2011 to 3.2% that it has been set for the coming year, which means a cut of about 16,000 million. Elena Salgado stressed that the Government foresees revenues of 127.852 million euros, compared to an expenditure of 47.157 billion. Of that figure, 8.875 million correspond to the setting of national accounting and 38.282 million remaining at the financing of local and regional authorities. We believe that revenue at year end will slightly above the budgeted, the Minister of economy before the media, has assured encrypting that margin in about 3,000 or 4,000 million euros more. Salgado has linked these additional revenues to the fight against fraud, to postponements reduction and better management of the tax of companies and payments on account.