Spanish public debt reaches 1 tn euros


-Spanish public debt stood at 1.007 trillion euros (1.346 trillion U.S. dollars) in June, according to data published Thursday by the Bank of Spain.

Debt increased by 10.336 billion euros in June, representing 98.4 percent of the country's gross domestic product (GDP). This meant a 1.03 percent increase from May to June.

It was the first time Spain's public debt surpassed the 1 trillion euros mark.

The financial crisis in the country has significantly pushed up its public debt, representing 36.3 percent of the country's GDP in 2007 compared to 98.4 percent in June.

The government expects to finish 2014 with public debt representing 99.5 percent of GDP.

Source from : Xinhua