The Spanish government would do what is necessary to slash the pubic deficit in three years, Spain's economy minister said Monday.
"We can reduce the public deficit from 11 percent to 3 percent," Jose Manuel Campa said during a visit to London.
"You can believe me or not, but Spain has done it before," Campa told a conference of economic analysts and investors.
Spain, whose public deficit hit 11.4 percent of GDP in 2009, is expected to have a public debt of more than 500 billion euros (700 billion U.S. dollars) by the end of 2010, according to figures released on Monday.
The Spanish government has announced plans to save 50 billion euros (70 billion dollars), aiming to reduce the deficit to some 3 percent of GDP by 2013, Campa noted.
However, some international economic analysts doubted the feasibility of Spain's macro-economic measures, saying they were too optimistic compared with those presented by the International Monetary Fund.
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