Spain's debt-to-GDP ratio rises to 94% in 2013

 

Spain's public debt rose to €961.6 bln at the end of 2013, Bank of Spain data showed on Monday, or around 94% of GDP, according to Reuters' calculations.

That is the highest level since records began, but slightly below the government's target of 94.2% of GDP for last year.

Spain's debt rose €9.5 bln in December from a month earlier and was €76.9 bln above that registered at the end of 2012, Bank of Spain data showed.

Spain, which is trying to rein in one of the largest budget gaps in the euro zone and revive the economy, has forecast that the ratio will peak at 101% in 2015 and 2016.