Spanish projects to be resurrected

By Sandy Guthrie24 August 2010

An extra € 500 million will be spent by Spain on public works projects next year, benefiting more than 50 projects that had stalled in the wake of Spanish austerity measures.

Those measures came as a result of Spain falling into its worst recession for decades.

Finance minister Elena Salgado said that the extra funding was now possible because of improved market conditions which meant that the government could reduce its debt costs. A rise in taxes is not being considered, she said.

The projects that will be resurrected are said to be ones that are already in an advanced state, and one priority will be the A8 motorway which links northern Spain with France, and therefore the rest of Europe.

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