Public debt closed 2015 at 1,069,876 million, 99% of GDP – Yahoo Finance Spain

Madrid, 17 February (EFE) .- The general government debt in December 2015 increased by 2.024 million euros from November to reach a balance 1,069,876 million, and assumes that the level of debt to GDP is at around 99%, above the target of 98.7%.

This goal is to be collected in the State Budget presented in August, while Economy explained today in a statement in October 2015 notified Brussels that goal increased to 99.7%.

compared to December 2014, the increase in debt was 36.139 million euros, according to the Bank of Spain.

on an annual basis, the growth rate of debt in December 2015 was 3.5%, 3.5 percentage points below that of December 2014.

the Economy Ministry notes that the deceleration that began in 2013 is thus maintained broadly.

it also notes that the GDP can be calculated at the end of 2015 using the volume growth of GDP expected in the estimation published by the INE on 29 January.

This would raise the GDP of 2015 to 1,081 031 million and would bring the level of debt to GDP at around 99% over the third quarter less than a percentage point.

economy affects is the first decline from the previous year since 2008.

in addition, notes that compared with growth of 7% in late 2014, changes in the rate of growth throughout 2015 has fallen.

for public administrations, the state increased its debt outstanding during 2015 46,721,000, half a year earlier, while the autonomous communities increased by 23.806 million, slightly above 2014.

local corporations reduced their levels debt last year at 3.080 million, bringing its outstanding balance at 35,250 million.

Economics indicates that the percentage of GDP show that increasing the level of public debt trajectory changes for the first time since 2008 , when the recession that lasted until mid-2013 began.

in his view, increase, thereafter, is due to the evolution of public deficits, funds dedicated to financing the autonomous communities (FLA and Provider Payment Fund), the restructuring of the financial sector and the Spanish contribution to European programs to assist partner countries.

the ministry stressed that this trend changed in 2015 thanks, . above all, to reduce the public deficit and improved conditions for debt financing