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Debt

Despite alarm bells in the press during 2011, the state of Spanish national debt is in fact rather better than the average in the EU, although it last year (2010) breached the 60% official limit for the Euro Zone. The worry has mainly been about the state of the current account, with spending falling more slowly than tax receipts. as a result, borrowing cannot come so easily under control.
The state deficit at the end of 2010 was 5.07%, well below the 6% expected. Debt to GDP was 62.8% at the 3rd Quarter, 2010. At the end of 2009 household debt stood at 903,000 million Euros, 678 of these being Mortgage debt. Firms owed 1.3 billion, 1% down on 2008.

Spanish debt Sept '06 (El Mundo)

Spanish debt Sept '06 (El Mundo)

Total public and private debt at q3, 2006 was over 2 billion (US trillion) Euros. The total outstanding personal credit stood in 2004 at just 152,429 million Euros, way below the figures reached in early 2009. In the year to June '07 mortgage debt rose 'only' 17.2% to above 600,000 million. At end October '06 it was 550,000 million, with other personal credit around 200,000 million, altogether 750,678 million. In September '06 bad mortgage payers were 0.4%. By the end of 2009 the figure was closer to 10 times that amount.
The trade deficit in June was 8.6 billion, the current account 8.5 billion.
Check out the current level of public debt with The Economist's debt clock.
See<http://www.thespanisheconomy.gob.es/pdf/110104%20Spanish%20debt-some%20highlights.pdf|debt highlights at Q3, 2010> (Spanish government pdf).