Yahoo Finance Spain's government debt hits 75.9 pct of its GDP
Spain's government debt compared to gross domestic product hits 75.9 pct, a 22 year high
Spain's Economy Minister Luis de Guindos reacts to the media before an Informal European economic and financial affairs council in capital Nicosia, Cyprus, Friday, Sept. 14, 2012. Key participants in Europe's debt crisis are gathering in Cyprus to discuss the latest developments in Spain and Greece and the impact of the European Central Bank's plan to protect the euro. (AP Photo/Petros Karadjias)
MADRID (AP) -- Spanish government debt rose to 75.9 percent of its economy in the second quarter of the year according to figures published by the Bank of Spain.
The figure is up 9.2 percent year-on-year and is the highest ratio in at least 22 years. The total debt ascended to €804 billion ($1.0 trillion), up €99 billion year-on-year, Spain's central bank said in a statement Friday.
Central government spending increased by 4.4 percent to €617 billion, representing 58.3 percent of GDP.
Regional government spending grew by 2.8 percent to €151 billion, equivalent to 14.2 percent of GDP, also the highest level in at least 22 years.
The most indebted region in the second quarter was Catalonia with €44 billion followed by Valencia.
