Spain Government Sees 2013 Debt-to-GDP Ratio at 90.5%
September 29 2012 - 7:36AM
Dow Jones News
By Jonathan House
MADRID--The Spanish government Saturday said its debt load will
jump this year and next, largely the result of its banking-sector
clean-up effort.
The government said its debt-to-gross domestic-product ratio
will rise to 85.3% in GDP in 2012 and to 90.5% in 2013. Earlier
this year, the government forecast a debt-to-GDP ratio of around
80% for this year.
In its 2013 budget plan, the government said the sharp debt
increase takes into account an up-to-EUR100 billion EU bailout for
the country's banks, Spain's contribution to bailouts for other
euro-zone countries and the financing of subsidized electricity
tariffs.
Write to jonathan.house@dowjones.com