The Catalan Government had a 1.96% deficit in 2012, according to the Spanish Finance Ministry
The Catalan Government has reduced its deficit by half over the last year, dropping from a 4.02% figure to a deficit of only 1.96%. However, despite the significant reduction, the figure is still above the 1.5% target unilaterally imposed by the Spanish Government. The Catalan Executive had been warning the Spanish Government that a 1.5% target was not realistic, as it did not relate to its spending responsibilities managing the basic Welfare State services. The Autonomous Communities had a total deficit of 1.73%. Spain as a whole ended 2012 with a 6.74% deficit, according to the Spanish Finance Ministry, over the 6.3% target imposed by Brussels. The Spanish Government posted a final deficit of 3.83%; Social Security – managed by the Spanish Government – had a 0.96% deficit and local governments a deficit of 0.2%. Barcelona City Council ended up with a budget surplus of €117 million.