May 18, 2016, 8:33 Madrid, May 18 (PL) Spanish public debt rose in March at 14 billion euros 31 million and stood at one trillion 95 000 358 million, reported the Bank of Spain here.
According to data released by the supervisor of the financial system, the debt of all government exceeded for the first time in a century 100 percent of gross domestic product (GDP).
The Spanish GDP grew 0.8 percent in the first quarter and in March the volume of the Spanish economy would be a trillion 89000 839 million euros, so that borrowing would be slightly above 100 percent, the source added.
This is the first time since 1909, the negative balance of public accounts exceeds the value of the economy.
in other words, the state should already more money than the wealth generated for Spain, because although the economy continues to grow, it does so at a slower pace than payment commitments, he said the newspaper El Pais.
the forecast of the current Spanish government functions is that the debt falls to 98.5 percent of GDP this year, to 96.5 percent in 2017 and 93.2 percent in 2018.
Since the beginning of the economic crisis in 2008, the debt to GDP this European country nearly tripled from a low of 35.5 percent in 2007 (384 billion euros) to 99 percent in 2015.
According to the executive, this volume of commitments produced by high inherited deficit, support mechanisms to the autonomous communities, the recapitalization of the financial sector and the Spanish contribution to the bailout programs for Ireland, Portugal and Greece.
the European Commission warned Spain on their high levels of debt and unemployment, threatening the long-term equilibrium of the path of economic recovery, to expose the country to risks arising from fluctuations in market confidence.
lmg / edu
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