Spain announces the most austere budget after dictator Franco

By : mina sabry

On : 6:41:00 AM

In : business

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Announced that Deputy Prime Minister Spanish Soraya Saenz de Santamaria, the government will reduce the budget deficit by 27 billion euros, and by reducing spending and increasing income in 2012, and will cut the budgets of the ministries by 17%, adding that the goal is to reduce the deficit without blocking economic recovery of the country

For his part, Finance Minister Cristobal Montouro budget 2012 as the most austere since Spain became a democracy, after the death of dictator Francisco Franco in 1975, is expected to pass the budget easily in the parliament, where he owns People's Party, an absolute majority in it, also due to the government to increase taxes large corporations and the costs of litigation in the degrees of appeal, and the freezing of wages employees of the government

The newspaper El Pais, the Spanish, that the disclosure of the draft budget came after a day of general strike, which hit Spain paralyzed, and the descent of millions into the streets to demonstrate against the policies of economic austerity, and this strike saw violent clashes between police and demonstrators, designed to protest against the reforms of labor law, including lower end of service benefits for workers