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Spain public debt reaches 90.2% of GDP in June

Source: Xinhua - Sat 17th Aug 2013
Spain public debt reaches 90.2% of GDP in June

Spain's public debt increased by €6.37 billion from May to June, representing 90.2% of the country's gross domestic product (GDP), according to data released on Friday by the Bank of Spain.

Spain's public debt reached €943.702 billion in June, reaching a new record high. It is also the 2nd consecutive month of increases.

Spanish public debt had decreased by more than €8.8 billion in April after 7 consecutive months of rises.

On a monthly basis, Spain's public debt suffered a 0.68% increase from May to June.

The government expects Spain's public debt to reach 91.4% of the country's GDP by the end of this year.

Local media reports cited the Ministry of Economy as saying that the increase of June was due to the large amount of debt placed by the Spanish treasury on the market.