Spain’s public debt in the first half of the year has already exceeded the government’s target for the full year as the country struggles to make an impact on the public deficit amid prolonged recession.
According to figures released on Friday by the Bank of Spain, the total outstanding debt of all of the country’s public administrations amounted to €942.758 billion at the end of June 2013, equivalent to 92.2 percent of GDP. The government’s target for the whole of 2013 was for a debt-to-GDP ratio of 91.6 percent.