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

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.


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