Spain’s debt is now worth more than its economy

20th May 2016, Comments 0 comments

It's public debt stockpile has reached €1.09 trillion.

SPAIN´S public debt is now worth more than the value of its economy.

The Bank of Spain revealed Wedensday that its public debt stockpile had reached €1.09 trillion in the first quarter of this year.

Considering the country´s GDP is €1.08 trillion, the debt represents 101% of the economy.

Its debt has risen consistently since the economic crisis and double dip recession following the 2008 crash.

The government estimates that the debt ration will fall to 99.1% at the end of the year.

 

© Olive Press Spain

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