Spain's Socialists will not approve a 2017 budget proposed by an incoming minority-government led by Prime Minister Mariano Rajoy, the party's interim head said on Tuesday.



The new government, which is expected to be formed by Sunday after a confidence vote in which the Socialists have agreed to abstain, must find at least 5 billion euros ($5.43 billion) worth of cuts or revenues to meet its 2017 EU deficit target.



"In no event do we plan on giving stability to Rajoy's government or approving its budgets," Javier Fernandez told reporters.