Spain's budget surplus widens to EUR 12.86bn

23rd October 2007, Comments 0 comments

23 October 2007, MADRID - (AFP) - Spain's budget surplus widened to 12.86 billion euros (18.34 billion US dollars) during the first nine months of 2007, or 1.22 percent of output, from 10.72 billion euros a year earlier, the economy ministry said Tuesday.

23 October 2007

MADRID - (AFP) - Spain's budget surplus widened to 12.86 billion euros (18.34 billion US dollars) during the first nine months of 2007, or 1.22 percent of output, from 10.72 billion euros a year earlier, the economy ministry said Tuesday.

The budget surplus stood at 12.34 billion euros during the first eight months of the year, the equivalent of 1.17 percent of the nation's gross domestic product (GDP), the ministry said in a statement.

The government credited an increase in tax revenues for the bigger budget surplus.

Spain's budget for 2008 is based on forecasts of GDP growth of 3.3 percent and a budget surplus of 1.1 percent of output.

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Subject: Spain news

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