19 May, 2016 @ 16:38
1 min read

Spain’s debt is now worth more than its economy

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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.

Laurence Dollimore

Laurence has a BA and MA in International Relations and a Gold Standard diploma in Multi-Media journalism from News Associates in London. He has almost a decade of experience and previously worked as a senior reporter for the Mail Online in London.

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  1. ‘Admitted’ unemployment – 24.1% / ‘admitted’ youth unemployment – 45%. EU caution for overstepping permitted deficit.

    Spain’s doing great – right.

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