Cuts of 10,000 million euros in Education and Health were announced in Spain

Spanish prime minister, Mariano Rajoy, has accelerated reforms and cuts. Rajoy plans to cut 10,000 million euros in education and health, the Executive made the announcement in a press release.

The note speaks of future privatizations, changes in health and education and “further rationalization, elimination of duplication and efficiency in the management of major public services will be launched this month.” It expressly refers to health and education to explain that “the projected savings will exceed 10,000 million euros.”

In the stability program, the statement will establish a firm commitment to “reduce the public deficit to 3% of GDP in 2013.”

The Government also announced two specific measures: accelerating the sale of the banks with public participation and measures to provide a higher volume of credit “that reduces the current financial crunch experienced by the Spanish economy.”

On Wednesday Rajoy detailed all of these decisions involving the adoption of a structural reform agenda for the coming weeks that will also include privatizations and reforms in different areas, designed to streamline costs, improve competitiveness and flexibility of the Spanish economy, “as in the energy sector, the market unit, the rental market, the promotion of entrepreneurial activity or action in R + D + i “. (FL)