Spanish economy may start recovering in 2013

MADRID, Nov. 20 (Xinhua) -- The governor of the Bank of Spain Luis Maria Linde said on Tuesday that the Spanish economy would probably start recovering in 2013 if it meets its commitments such as the deficit target.

The central bank governor said that "foreign confidence depends on commitments" and that Spain needs to meet the deficit target set by the European Union (EU) which is 6.3 percent of economic output in 2012.

However, the recent data provided by the European Commission implies Spain will miss that target by a long way.

Linde said that the Spanish stock market situation is related to foreign confidence, commenting that the increase of the Spanish risk premium was due to the lack of market confidence.

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