Catalonia’s public debt represents 15.4% of its GDP in 3rd term of 2010
For the whole of Spain, Autonomous Communities’ public debt represents 10.2% of Spain’s GDP in the 3rd term of 2010. It is the highest it has been since 1990. However, the largest part of the public debt comes from the Spanish Government, which represents 44.1% of Spain’s GDP. Finally, public debt from local public administrations only represented 3.4% of Spain’s GDP. In total, Spain’s public debt represents 57.7% of the country’s GDP, much lower than in the UK, Germany or Ireland.
Madrid (ACN).- Today the Bank of Spain released the Spanish public administrations’ public debt figures. Today the share of each administration’s total public debt was made public, which represents 57.7% of Spain’s GDP at the end of the 3rd term of 2010. In fact, this figure is much lower than other European countries, such as the United Kingdom or Germany, and not to speak about Ireland, Portugal, Italy or Greece. However, international markets are putting a lot of pressure on Spain’s public debt. From this 57.7% of public debt, Autonomous Communities represent an average of 10.2% of Spain’s GDP, despite spending half of the public expenditure. The bad news is that this debt increased by 27.7% in the last year and is the highest it has been since 1990. The total amount of public debt is 107,624 million euros. Local administration’s debt only represents 3.4% of Spain’s GDP; it amounts to 36,224 million euros.