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Spain's public debt reaches 100 pct of GDP in February

Xinhua, April 15, 2016 Adjust font size:

Spain's public debt reached 100.01 percent of the country's gross domestic product (GDP) in February, according to data published on Friday by the Bank of Spain.

The debt rose by 9.732 billion euros (10.98 billion U.S. dollars) since January to 1.081 trillion euros, which represented 100.01 percent of GDP and surpasses the Spanish government prediction for this year, 98.2 percent of GDP.

According to the bank, Spanish public debt rose by 3.38 percent from February 2015 to February 2016.

The International Monetary Fund (IMF) has recently warned about the high public debt Spain has, forecasting that it will stand at 99 percent of GDP by the end of 2016 and at 98.5 percent in 2017. Enditem