RTVE to close 2012 with €105m deficit

Iñaki Ferreras | 27-10-2012

Spain’s national public broadcaster RTVE expects to close this year with a deficit of €105m, as noted by the president of the corporation, Leopoldo González-Echenique, during his appearance before the Joint Committee on Parliamentary Control of RTVE in the Senate this week in Madrid.

The deficit for this year is three times higher than the €29m of debt with which it closed the 2011 budget.

Echenique said that of the €105m deficit, €73m comes from expenses that went over budget - €51.3m in the first half and €21m in the second - after suffering the cut of €204m approved by the Government to the state contribution.

He said the corporation had to face this cut due to commitments and has said that the €73m over the budget was allocated because otherwise "there would have been an empty screen" and there would have been consequences "difficult" due to falling ratings, reports Europa Press.

It also noted that the other €32m of the deficit corresponds to a lower volume of revenue than budgeted, due to "market circumstances".