51660Crisis: Spain hits record 93.9% debt-GDP ratio in 2013
- Mar 17, 2014
Crisis: Spain hits record 93.9% debt-GDP ratio in 2013(ANSAmed) - ROMA, MARCH 14 - Spain's public debt reached a new record in the fourth quarter of 2013, touching 960.64 billion euros, or 93.9% of the gross domestic product (GDP), marking a 0.6% increase compared to the previous quarter. The debt-to-GDP ratio is less than the 94.2% predicted by a government macroeconomic forecast, according to data released today by the Bank of Spain. The debt to GDP ratio climbed 8.6% compared to the fourth quarter of 2012. Since the beginning of the financial crisis, Spain's debt to GDP ratio has gone from 40% of the GDP in 2008 to 93.9% in 2013.