MADRID (Reuters) – Spain is ready to situation web debt price 60 billion euros ($62.5 billion) in 2025, Economic system Minister Carlos Cuerpo mentioned on Tuesday, up from the 55 billion euros issued in 2024.
He added that gross debt issuance would attain 278 billion euros, versus the 257 billion euros issued final 12 months, which was equal to 17% of the nation’s gross home product.
Cuerpo instructed a information convention that the federal government was giving itself “sufficient flexibility to answer the reconstruction wants” following devastating floods in southeastern Spain that killed 224 in October.
By way of debt-to-GDP ratio, Madrid expects it to face at 101.4% by the top of 2025, down from 102.5% at end-2024.
Spain’s GDP “stored tempo” within the fourth quarter of 2024, Cuerpo added, outpacing different massive economies within the European Union.
The federal government estimates GDP development for the entire of 2024 was 2.7%. It expects the economic system to develop by 2.5% this 12 months.
($1 = 0.9606 euros)
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