Catalonia’s budget deficit

With an economy the size of Portugal’s, Catalonia accounts for 16 percent of Spain’s population, 19 percent of  gross domestic product and 27 percent  of its exports. With 30.3 billion of debt, however, represents 28 percent of  Spain’s combined regional debt pile. Catalonia is planning to cut public spending  by 10 percent this year. The story by Raphael Minder is published on the International Herald Tribune.