Fitch: Spain deficit 2015 highlights the structural challenges

The Spanish deficit for 2015 highlights the challenges that the country faces on Public Accounts ground.

It is the opinion of Fitch points out that the slowdown in the consolidation of the accounts last year reinforces the idea that the high Spanish public debt ratio to decline only gradually. The reduction occurred up to 5.1%, from 5.9% reached in 2014 can not obscure the fact that Regional and social security budgets missed their targets.

The rating agency also focuses on the role of the policy stating that the authorities' response will be an important factor in restoring credibility to attempts to improve the fiscal position of Spain.

Fitch does not foresee significant changes to the 2016 budget by the current interim government, which increases uncertainty about fiscal consolidation.