Spain's PM says 'no need' for more austerity measures

10th September 2010, Comments 0 comments

Spain's prime minister said Friday the government did not plan any new austerity measures in order to slash the massive public deficit as the economic situation "has improved."

"We do not plan any additional cuts," Jose Luis Rodriguez Zapatero said in a radio interview.

Zapatero's socialist government in May passed a 15-billion-euro (19-billion-dollar) austerity plan aimed at shoring up Spain's public finances amid investor concerns it could follow Greece into a financial crisis.

That was on top of a 50-billion-euro package of spending cuts announced in January designed to progressively slash the public deficit to the eurozone limit of three percent of gross domestic product by 2013.

Asked by Cadena Ser radio whether any new measures were planned, he replied: "There will not be any need."

"The (economic) situation has improved" since earlier this year, he said.

© 2010 AFP

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