ECOFIN mood lifting, Spain to keep cutting debt - economy minister
Reuters
Published May 20, 2019 05:56AM ET
ECOFIN mood lifting, Spain to keep cutting debt - economy minister
LONDON (Reuters) - The mood among euro zone finance ministers was "mildly" more upbeat at their ECOFIN meeting last week, Spain's Economy Minister Nadia Calvino said on Monday, adding that her country planned to keep cutting its debt as fast as possible.
Calvino pointed to the resilience being shown by core economies like Germany's and the expectations of ongoing growth in the euro zone despite the uncertainty of global trade tensions.
"The atmosphere at ECOFIN (euro zone finance ministers) meeting last week was mildly more optimistic than in previous meetings," Calvino said during a speech at a London City Week event.
Spain plans to cut its debt and reduce its fiscal deficit to 2% this year, she added.
"This year we have already announced a reduction in 5 billion euros of our debt net issuance from the 35 billion originally announced to 30 billion and we do not rule out further reductions in the course of the year."
"We intend to use all possible fiscal space to pursue this kind of fast debt reduction."
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Written By: Reuters
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