Public debt shot up by 22,500 million in March despite the fact that the crisis only affected half a month

The economic crisis unleashed by the coronavirus is going to have devastating effects. This is announced by all the organizations, as stated by the National Statistics Institute (INE) when it published that the Gross Domestic Product (GDP) plummeted more than 5% in the first quarter and this is confirmed by the public debt figures: It shot almost 22,500 million in the month of March, a period that was only affected in its second fortnight by the state of alarm.

The data raises the total amount of debt to 1.22 trillion euros , which is the largest liability reached by Spain, and, in addition, the month-on-month increase is the most pronounced since February 2013, when the consequences of the crisis of euro forced the Spanish economy to borrow at very remarkable rates.

In accordance with the criteria of The Trust Project

• Coronavirus
• Covid 19
• Bank of Spain

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