 Spain public debt hits record high of 68,5% March 16, 2012 - 16:35 AMT PanARMENIAN.Net - The Bank of Spain said Friday, March 16 that the country’s debt stood at 68.5 percent of GDP at the end of 2011, the highest ratio since 1995. According to AP, the bank said in a report that this marked a 2.5 point increase from the third quarter of 2011. At the close of 2010 it was 61.2. Spain’s debt percentage is well below the EU average but its borrowing costs are higher due to concerns about its economic outlook and depressed property market. The debt load, which includes regional and local debt, was €735 billion ($960 billion) at the end of 2011. Debt owed by the 17 semiautonomous regions shot up 17.2 percent last year. The worst-off was Catalonia, the wealthy and powerful northeast region whose capital is Barcelona. It accounted for nearly a third of all regional debt.   Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads.   Partner news |  Related sections Latest news Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty  Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza.Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations.Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |
