Spain’s debt is now worth more than its economy

Its public debt stockpile has reached €1.09 trillion

LAST UPDATED: 19 May, 2016 @ 19:36
5
SHARE

eurossSPAIN´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.

5 COMMENTS

The Olive Press are not responsible and do not moderate individual comments before they are posted. Anyone who uses racist, sexist, homophobic or xenophobic language or hate speech will be blocked.

HAVE YOUR SAY...