Spain to outline budget cut
Published:Wednesday | May 12, 2010 | 1:30 PM
The Spanish government is set to detail deep cuts in public spending amid European Union (EU) concerns that economic problems afflicting Greece may spread.
Prime Minister Jose Luis Rodriguez Zapatero is expected to outline the cuts which are aimed at bringing down Spain\'s borrowing levels.
On Monday, Spain said it planned to cut annual borrowing by 4.7 per cent of Gross Domestic Product (GDP) by the end of 2011.
The EU has been calling for fragile European economies including Spain, Portugal and Greece to impose tougher austerity measures.