Friday 20 April 2018

Spain agrees to austerity measures

Passengers wait for news about their flights at T4 terminal of Barajas airport in Madrid
Passengers wait for news about their flights at T4 terminal of Barajas airport in Madrid

The Spanish government has approved a package of new austerity measures and economic stimulus in a bid to ease investor fears about its debt.

The moves include selling off nearly a third of its national lottery, partially privatising airports, cutting a jobless benefit and trimming taxes for small companies.

The measures were agreed at a weekly cabinet meeting.

Spain, which has soaring unemployment and a swollen deficit, is battling to convince markets it can handle its debt and won't need a bail-out from the European Union and International Monetary Fund like Ireland and Greece.

Press Association

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