Spain’s debt-to-GDP ratio rose to 94 per cent in 2013

Spain’s public debt rose to €961.6 billion at the end of 2013, according to Bank of Spain data.

This is equivalent to around 94 per cent of gross domestic product (GDP), according to Reuters’ calculations.

That is the highest level since records began, but slightly below the government’s target of 94.2 per cent of GDP for last year.

Spain’s debt rose €9.5 billion in December from a month earlier and was €76.9 above that registered at the end of 2012, Bank of Spain data showed.

Spain, which is trying to rein in one of the largest budget gaps in the euro zone and revive the economy, has forecast that the ratio will peak at 101 per cent in 2015 and 2016.

Reuters