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- Spain's government debt rose to 117.1% of GDP in 2020
Spain's government debt rose to 117.1% of GDP in 2020
Reuters reports that the Bank of Spain said that Spain's public debt ended 2020 at 117.1% of gross domestic product as the coronavirus pandemic and the measures imposed to curb it lifted borrowing and led to a deep economic contraction.
Debt as a percentage of GDP increased by more than 20 percentage points in 2020 from the 95.5% recorded in December 2019, the Bank of Spain's data showed.
Spain's economy shrank by a record 11% in 2020 from 2019.
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