March 2, 2021

Consequences for the pocket that the public debt has shot to its highest level since 1902


MADRID

Updated:

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Public debt closed 2020 with 1,311,298 million euros, a record amount in absolute terms that is 122,438 million more than in December 2019, according to data from the Bank of Spain. According to sources from the Ministry of Economic Affairs, this represents 117.1% of GDP. A volume that, in relative terms, the Spanish economy had not supported for 118 years, according to the IMF, when in 1902 the Spanish economy was still swallowing the effects of the colonial wars that ended with the loss of the Philippines and Cuba and marked a 123 , 61% of GDP. The Executive expected to close 2020 with 118.8% of GDP and 2021, with 117.4%.

The increase in debt corresponds to the rise in

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