The Spanish public debt rises to 10.000 bln in April, slashing 100% of GDP – Investing.com Spain

MADRID (Reuters) – The Spanish government debt rose in gross terms to 1.09 billion euros in May, compared with 1.079 billion in April, data showed on Friday the Bank of Spain.

The percentage of debt to Gross Domestic Product (GDP) stood at 99.90 percent compared to 98.99 percent in April, based on accumulated quarterly GDP between the second quarter of 2015 and the first of 2016 in seasonally adjusted data.

After several consecutive years of strong rebound in debt, the Spanish government now in office, plans a progressive reduction of debt from this year occurs.

Executive expects to close this year with a debt / GDP ratio of 99.1 percent and next year with 99.0 percent, according to its latest macro picture published in April.

Before the start of the crisis, in 2007, Spanish public debt amounted to 384,000 million euros, equivalent to 35.5 percent of GDP.

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