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Healthcare

UPDATE 1-Spain's government debt rose to 117.1% of GDP in 2020

(Adds detail, 2019 comparison)

MADRID, Feb 17 (Reuters) - 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, the Bank of Spain said on Wednesday.

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.

The debt’s total value rose 122 billion euros ($147.16 billion) in 2020 to 1.31 trillion euros, mainly as a result of increased government spending on direct aid to people and companies affected by the pandemic, the economy ministry said on Wednesday.

Spain’s economy shrank by a record 11% in 2020 from 2019. ($1 = 0.8290 euros) (Reporting by Inti Landauro, editing by Andrei Khalip and Kim Coghill)

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