Spanish debt hits record 84.1% of GDP
- Published: 15 Mar 2013 at 21.49
- Online news: World
Spain's public debt hit a new record of 84.1 percent of gross domestic product (GDP) at the end of 2012, owing to increases both at the federal level and that of the country's 17 autonomous regions, official data released on Friday showed.
Cranes stand idle at an empty shipyard in Vigo due to a loss of orders on April 27, 2012. Spain's public debt hit a new record of 84.1 percent of gross domestic product (GDP) at the end of 2012, owing to increases both at the federal level and that of the country's 17 autonomous regions.
The figure, which gained 14.8 percentage points last year to total 884.4 billion euros ($1.15 trillion), was well above the European Union (EU) limit of 60 percent of GDP, but came in a bit below the government's own forecast of 85.3 percent.
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