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Spain's public debt stands at 1.243 trillion U.S. dollars in Q2

Xinhua, September 16, 2016 Adjust font size:

Spain's public debt stood at 1.106 trillion euros (1.243 trillion U.S. dollars) in the second quarter of the year, according to the data published by the Bank of Spain on Thursday.

The figure represented 100.5 percent of the country's gross domestic product (GDP) in the second quarter of 2016.

Spain's public debt rose by 0.96 percent in the second quarter from the first quarter this year, and staged a 4.6-percent increase compared to the same period of 2015.

The debt of the central administration reached 964.732 billion euros, rising by 0.27 percent from the first quarter. The debt of local governments rose slightly by 0.15 percent to 35.107 billion euros.

On the other hand, the debt of the social security system fell by 14 million euros to 17.174 billion euros.

Despite the fact that the public debt has surpassed the target of 99.14 percent of GDP set by the Spanish government, the Spanish Ministry of Economy assured that the goal will be achieved by the end of the year. (1 euro = 1.12 U.S. dollars) Endit