Spain's Treasury Minister Cristobal Montoro shows his papers reading "expenses of ministries get down 8.5 %" during during a news conference at Parliament in Madrid, Spain , Saturday, Sept. 29 , 2012.... more 
Spain's Treasury Minister Cristobal Montoro shows his papers reading "expenses of ministries get down 8.5 %" during during a news conference at Parliament in Madrid, Spain , Saturday, Sept. 29 , 2012. Spain's public debt will reach 90.5% of its gross domestic product in 2013 with new austerity budget, according to government documents. Spain also raised the forecast for this year to 85.5% from the 79.8% originally forecast. Finance Minister Cristobal Montoro spoke after presenting the 2013 draft budget that the government announced Thursday would cut overall spending by euro 40 billion ($51 billion). The budget also reduces funds available for unemployment payments by 6.3 percent, and support for Spain's royal house by 4 percent. (AP Photo/Andres Kudacki) less 
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Associated Press | Photo By Andres Kudacki
Sat, Sep 29, 2012 12:33 PM EDT