Spanish non-financial companies reduce their debt by 7% in July compared to a year ago
The debt of Spanish families has been reduced by 4% compared to July 2011, reaching €848.4 billion by the end of July 2012. 77% of this family debt is related to real estate loans. Private companies passed from a global debt of €863.9 billion in July 2011 to a debt of €804.2 billion a year later.
Madrid (ACN).- Private debt in Spain has reduced between July 2011 and July 2012. Spanish families and companies have both reduced their debt levels over the last year, according to data released by the Bank of Spain this Tuesday. Families in Spain saw their global debt drop by 4%, passing from €883.67 billion in July 2011 to €848.42 billion last July. 76.9% of the family debt in July 2012 (€652.45 billion) is related to real estate loans, although this quantity is 3.2% lower than a year ago. Regarding non financial companies, they have reduced their debt with banks over the same period, passing from €863.88 billion worth of debt in July 2011 to a debt of €804.23 billion at the end of last July, which represents a 6.9% decrease.