Spain public debt at 10-year high: central bank

17th December 2010, Comments 0 comments

Spain's public sector debt hit a 10-year high in the third quarter at 57.7 percent of gross domestic product, central bank figures showed Friday.

The public debt rose to 611.2 billion euros (808 billion dollars) during the period, up 16.3 percent from third quarter 2009 and up 1.9 percent over the previous three-month period.

The public debt includes debt from the central government, the social security system and regional and local administrations, and is a key measure of the financial health of a country.

As an European Union member, Spain is required to keep its public debt below 60 percent of GDP.

© 2010 AFP

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