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

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Pablo Hernández de Cos, Governor of the Bank Credit: Banco de España flickr

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.

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

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