スペインの2013年の公的債務は、国内総生産の93´7%の961'555'000'000ユーロ(9615億5500万0000ユーロ)にたっする。
La deuda acaba 2013 en el 94% del PIB
El lastre del pasivo se triplica con la crisis hasta el nivel más alto de los últimos 100 años
In English: Spanish public debt ended 2013 at its highest level in a century
Amanda Mars Madrid 17 FEB 2014 - 09:53 CET
Fuente: Banco de España.
Source: Bank of Spain.
出典：スペイン銀行。
The debt in 2013 just 94% of GDP
The ballast liability triples the crisis to the highest level of the last 100 years
In Inglés: Spanish public debt ended 2013 at its highest level in a century
Amanda Mars Madrid 17 FEB 2014 - 9:53 CET
Spain is on track to exceed one trillion euros of public debt, which means the same amount the whole economy and nearly three times that before I started this five years of crisis. The end of 2013 shows how the person has set a new record , reaching a total of 961.555 million euros , representing 93.7% relative to gross domestic product ( GDP) Finance estimates for last year . They are 10 percentage points higher than debt recognized a year ago ( 76.891 million in hard cash euros) , while after recalculated national accounts last summer, the debt ratio in 2012 was set at 86 % , so the jump is reduced to eight points.
Debt increased at a rate of 210 million daily to let mortgage per citizen on average 20,629 euros. The Spanish economy is thus the largest debt level in the last century because, according to the updated series of the IMF in the early twentieth century came to play 123% of GDP. The government forecast that was wound up in 2013 but 90.5% in September, to monitor developments in the first three quarters of the year , had to raise it to 94.2 %.
Deficit financing , ie , the money it costs to cover the difference between what it collects and spends the state, the bill for the banks and the public cost of the social costs of the crisis , such as unemployment benefits have been gained the burden of debt and the added problem is that the economy , fresh out of the longest recession of the democratic era , await a few years of low growth that hinder the payment of the debt . And the adjustment measures to control the deficit and clinching debt hinder economic takeoff in turn fueling a vicious circle, hinder consolidation of public accounts.
The Government assumes that in 2015 will exceed 100% of GDP
If in 2007, the weight of public debt to GDP ratio stood at 36 % , almost half of European ratio in the third quarter for the first time surpassed it : it reached 93.4 % , according to data from Eurostat , against a European average of 92.2 %. And the public liabilities in the euro area had achieved a quarter reduced to another for the first time since 2007 , while Spain staged the third largest annual increase , behind only Cyprus and Greece.
Although the rate of increasing the liability has been halved (in 2012 increased by about 146,000 million euros, double the number in 2013 ) , still above most of the partners of the euro.
"We have now passed the most critical moment : when nominal GDP fell and debt grew at a much faster rate [which thereby fattens the ratio ] , with the bank bailout and the Autonomous Liquidity Fund , now the time is less dramatic but we need to reduce debt prompted not only because Brussels but because it makes much weaker , "explains Santiago Lago , Professor of Applied Economics at the University of Vigo.
Only in the interests carry this debt payment over 38,000 million euros was eaten in interest as the budget last year , though the government says it will stay so, and have been estimated another 36,000 by 2014 thanks to improved markets allows Spain to pay less profitable to investors who buy bonds and treasury bills, at least since 2006.
Slow growth and low inflation adjustment difficult
The plan provided that stability of government debt ceiling touched in 2016 , at the edge of 100% of GDP ( 99.8 %) and from there empezase down , but in the Budget for 2014 admitted that in 2015 first exceed the threshold of 100% .
Forecast in 2015 that 100% matches to the latest report of Studies of BBVA , as estimated by BBVA Research , which warned that "there is still a long way to control public balance " if you redirect the path of debt below the 60% threshold . " To do this we need not only start to record primary surpluses in public finances , it is necessary that the nominal growth of the economy is higher than the rate implicit public debt interest" , experts point out .
Between 1998 and 2007 this threshold was reached and public debt was reduced by more than 27 percentage points of GDP by economic growth of 7.5% of nominal GDP annual average "offset interest payments on debt ( with an annual average of 5.3% ) " implicitly typed . This scenario , according to experts , it is difficult to occur again before 2016.
Rising public debt is a problem throughout the periphery of the euro zone and there are those who defend the need for waivers and restructurings for monetary union off the hook .
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