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Spanish debt hits 93.4% of GDP

Source: Reuters - Fri 13th Dec 2013
Spanish debt hits 93.4% of GDP

Spanish National Debt increased to reach 93.4% of GDP between July and September, compared to the government's year-end target of 94.2% of GDP, according to a report released by the Bank of Spain earlier on Friday.

Spain sees the debt-to-GDP ratio peaking at 101% in 2015 and 2016, the highest levels in more than a century as the country struggles to reduce one of the largest budget gaps in the euro zone and revive the economy.

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