- uploaded: Feb 16, 2013
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Research has been hit hard by Spain's austerity budget. The Spanish government has cut funding for research and development (R&D) by one-fourth in its draft budget for 2012. This cut "brings the funding back to 2005 levels, once inflation is taken into account", according to Carlos Andradas, president of the Confederation of Spanish Scientific Societies (COSCE). According to COSCE's analysis, the overall funding for research will fall from €8.5 billion (US$11.1 billion) last year to €6.4 billion in 2012 - a 25.5% reduction applied to both military and civil research.