Spain's public deficit accounts for 4.62 percent of GDP

(MENAFN) According to the Spanish Ministry of Finance, the country's public deficit accounts for 4.62 percent of the country's gross domestic product (GDP) in November 2014, Xinhua reported.

The country's government forecasted that public deficit would stand at 5.15 percent at the end of last year, while Brussels requires a deficit target of 5.8 percent for the full year of 2014.

The deficit of Spain's central administration stood at USD38 billion up to November, meaning a 13 percent drop compared to a year ago and accounting for 3.15 percent of the GDP.

Spain's Autonomous Communities hit USD16.52 billion, representing 1.37 percent of the GDP. Meanwhile, the Social Security's deficit reached USD1.06 billion, accounting for 0.09 percent of the GDP.