Spain to Borrow $305 Billion in 2015 as Debt Reaches 100% of GDP
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Spain will sell 242 billion euros ($305 billion) of bonds and bills next year to cover refinancing needs and its budget deficit, as the government seeks to bolster support in the run-up to the general election.
The country’s public debt will rise to 100 percent of gross domestic product from 98 percent at the end of this year, according to the spending bill presented today by Budget Minister Cristobal Montoro in Madrid. The government’s net borrowing will be 47 billion euros.