Spain’s public debt burden rises to record 88.2%June 14, 2013 - 15:07 AMT PanARMENIAN.Net - Spain’s central bank says the country’s public debt burden rose to a record 88.2 percent of gross domestic product at the end of the first quarter, according to The Associated Press. The bank said Friday, June 14 that Spain’s debt was 922.82 billion euros ($1.23 trillion) at the end of March, up 19.1 percent from the same period a year earlier. The government has said it expects its debt burden to rise to 90.5 percent of GDP at the end of 2013 but it may have to revise the forecast. Spain, with 27.2 percent unemployment, has been in recession for most of the past four years as the economy struggles to emerge from the collapse of its once-booming real estate sector in 2008. In that year, public debt represented 39.5 percent of GDP. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |