The Balearic minister of finance Catalina Cladera had hoped for more flexibility. | CAIB
At the latest meeting of the Council for Fiscal and Financial Policy, the national minister for finance, Cristóbal Montoro, has rejected calls from various Spanish regions for a deficit target of 0.3% in 2016 to be raised.
With the support of regions governed by the Partido Popular, ten regions in all including the Balearics, will have to accept this target.
Montoro accepts that this will be very demanding but has stressed that it is a target that is common to all regions which have, in the past few years, made great efforts to address deficit levels.