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Spain public debt at 10-year high

Source: AFP - Fri 17th Dec 2010

Spain's public-sector debt hit a 10-year high in the third quarter at 57.7% of gross domestic product, central bank figures showed on Friday.

The public debt rose to 611.2 billion euros during the period, up by 16.3% from third-quarter 2009 and up by 1.9% over the previous three-month period.

The public debt includes that from the central government, the social security system and regional and local administrations, and it is a key measure of the financial health of a country.

As a member of the European Union, Spain is required to keep its public debt below 60% of GDP.

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