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Spain Plans to Borrow 207.2 Billion Euros in 2013, Ministry Says

Sept. 29 (Bloomberg) -- Spain plans to borrow 207.2 billion euros ($267 billion) next year, the Budget Ministry said today.

Spanish bonds’ share of debt in circulation will fall 78.6 percent next year when the average maturity of its debt will fall to 5.8 years, the ministry said today in the so-called yellow book which sets out the budget in detail.

The country’s cash deficit will be 38.1 billion euros, and its ratio of debt to gross domestic product will reach 90.5 percent in 2013, the ministry said.

The budget assumes 10-year borrowing costs of 5 percent, Brent crude at $101 a barrel and the euro at $1.24.

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To contact the reporter on this story: Ben Sills in Madrid at bsills@bloomberg.net

To contact the editor responsible for this story: Andrew Reierson at areierson1@bloomberg.net

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