Bank of Spain - EFE
The Bank of Spain has said that in 2011 the debt of the autonomous regions in Spain reached an all-time high, and now represents 13% of GDP.
It means that there was a 17.3% increase in debt over the year in the regions, and that it now stands at 140.083 billion €.
Cataluña leads the debt volume with a ratio of 20.7% against DGP, and it is by volume the region that owes the most.
It is followed by Valencia with 19.9% debt/GDP, Castilla La-Mancha 18%, and the Baleares 16.9%. These are the regions which continue to break the Government’s limit since they have been reduced slightly.
Local Town Hall debt was little changed, down 0.03% to 35.42 billion € or 3.3% of GDP.
Meanwhile the State debt has reached 559.459 billion € after falling 14.6% over 2011.
In total the public debt grew by 14.2% to reach 68.5% of GDP, which is 8.5 points above the 60% allowed by the European Union.
Source: http://www.typicallyspanish.com/news/publish/article_34052.shtml#ixzz1pIKLBanU
