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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

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