Spain Debt Reaches Record as Rajoy Becomes Crisis Focus: Economy
This article is for subscribers only.
Spain’s public-debt burden surged to the most in at least two decades, underlining concerns about its ability to reorder state finances as contagion from the debt crisis focuses on the euro area’s fourth-biggest economy.
The nation’s overall debt last year amounted to 68.5 percent of gross domestic product, exceeding the government’s forecast of 67.3 percent, data on the Bank of Spain’s website showed today. That compares with 66 percent in the third quarter and 61.2 percent at the end of 2010.