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Spain's debt-to-GDP ratio rises to 114.1% in third quarter of 2020

FILE PHOTO: A horse carriage driver eats a sandwich during a stop in the Andalusian capital of Seville January 10, 2013. REUTERS/Marcelo del Pozo

(Reuters) - The Spanish government’s debt rose as a percentage of its gross domestic product (GDP) to 114.1% in the third quarter of 2020, up from 110.2% in the second quarter, the Bank of Spain said on Friday.

Spain’s debt-to-GDP ratio was 97.5% at the end of the third quarter 2019.

Measures to cushion the economic blow from the coronavirus have forced the government to ramp up spending this year, while economic output has slumped in the wake of restrictions on businesses.

Reporting by Anita Kobylinska; Editing by Nathan Allen

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