The Spanish Prime Minister Mariano Rajoy said on Tuesday he did not rule out the announcement of new cuts next Friday April 26 when the Spanish government will revise down its economic predictions.

Rajoy made this statement during the press conference after his meeting with Slovakian prime pinister, where he said that due to the new economic predictions and the economic situation in the country the government might cut some items of the public expenditure although he said not to "like" it.

Rajoy explained that austerity measures are essential at the moment and assured that without them the government "would be destroying the future" of the Spanish people.

He also said he "does not want to increase the sales tax" but stated that it depends on the economic situation and the process of fiscal consolidation. The Spanish government had already raised the sales tax from 18 percent to 21 percent last September.

The doubts couldn't be dispelled next Friday when the government will announce its new economic predictions and the new economic measures to reduce Spain's public deficit, which according to Eurostat reached 10.6 percent taking into account injections to the banking system.

This Tuesday also saw the Bank of Spain publish new economic data about Spain's GDP contraction in the first quarter of 2013, which saw 0.5 percent fall, while it contracted by 2 percent between March 2013 and the same month of 2013.