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Spain says it will miss 2012 deficit target

Published 03/02/2012, Associaed Press

The announcement came as the government reported more grim economic news: a big rise in claims for jobless benefits last month and a new forecast that Spanish economic output will fall 1.7 percent this year, worse than the 1 percent forecast recently by the EU and the 1.5 percent predicted just weeks ago the Bank of Spain.

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