Spain ‘broadly’ passes budget test, EU says, but could do better

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The European Commission said Tuesday that Spain’s 2017 budget was “broadly” in line with EU deficit rules but the government should be ready to take more remedial action if needed.

Spain has exceeded the EU budget deficit limit of 3.0 percent of gross domestic product since the 2008 financial crash and ensuing eurozone debt crisis brought the over-extended economy to …