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Spain Plans to Borrow €207.2 billion in 2013

Source: Bloomberg - Sun 30th Sep 2012
Spain Plans to Borrow €207.2 billion in 2013

Spain plans to borrow €207.2 billion in 2013, the Budget Ministry said on Saturday.

Spanish bonds' share of debt in circulation will fall 78.6% next year when the average maturity of its debt will fall to 5.8 years, the ministry said today in the so-called yellow book which sets out the budget in detail.

The country's cash deficit will be €38.1 billion, and its ratio of debt to GDP will reach 90.5% next year, the ministry said.

The budget assumes 10-year borrowing costs of 5%, Brent crude at $101 a barrel and the euro at $1.24.

Comment on this Story

Ha! I saw what you did then @Robster - You made a currency joke! I was more interested in the assumption of 5% borrowing cost on 10 year bonds! Clearly Benny Hill was in charge of the calculator when deciding the budget!
Ed Bishop - Mon, 1st Oct 2012
"Assuming the Euro at $1.24" seems to be a huge and very important assumption !
Robster - Sun, 30th Sep 2012