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Spain’s Debt Increases to €1.224 trillion and May Top 100 Per Cent of GDP This Year

By John Smith • Published: 12 Jun 2020 • 11:38

SINCE 2017, Spain’s general government debt (which includes the autonomous regions) had been steadily decreasing on a quarter by quarter basis.

Figures just released by the Bank of Spain show a significant increase to €1.224 trillion (98.9 per cent of Gross Domestic Product, GDP) for the first quarter of 2020.

This was 3.5 per cent higher than the last quarter of 2019 and rose even before the lockdown and State of Alarm had influenced the results.

Second quarter figures will almost certainly take the debt above 100 per cent of GDP.

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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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