MADRID, Sept. 14 (Xinhua) -- Spanish government debt reached a record high of 75.9 percent of GDP in the second quarter of the year, the Bank of Spain reported on Friday.
Spanish debt, a sum of those of autonomous regions and city councils, reached 804 billion euros (1 trillion U.S. dollars) in the second quarter of 2012.
The figure represents a 3.8 percent increase compared to the previous quarter, a 9.2 percent increase year-on-year and is the highest rate in 22 years.
Central government debt experienced a 4.4 percent increase, representing 58.3 percent of GDP.
Regional debt increased less, by 2.8 percent, reaching 150 billion euros and representing 14.2 percent of GDP. Meanwhile, city council debt decreased by 1.5 percent, reaching 36.3 billion euros (3.4 percent of GDP).
The European Central Bank recently warned in its monthly bulletin that Spanish debt may reach 104 percent of GDP if goals included in the Growth and Stability Pact are not fulfilled.
Source: http://english.sina.com/business/2012/0914/506739.html
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