The public debt is reduced by 4,300 million in October – Investing.com Spain

MADRID (Reuters) – The debt of the whole of the Spanish Public administration was reduced by 4,300 million euros in October, according to calculations of Reuters reduces the percentage of debt to Gross domestic Product (GDP) to less than 100 percent.

Taking into account the GDP data are seasonally adjusted for the last four quarters at market prices, the ratio of public debt to GDP stood at 99.9 percent, compared to 100,9 percent from the previous month.

According to data from the Bank of Spain published Friday, the debt passed to 1.103.391 million euros in October from the 1.107.693 million in September.

The forecast of the Spanish Government is that, at the end of the year, the liabilities of the public administrations is placed in the 99.4 per cent of the GDP, while that by 2017, the estimate is 99,0 per cent.

Before the start of the crisis, in 2007, the Spanish public debt amounted to 384.000 million euros, the equivalent of 35.5 percent of GDP.

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