Spain’s national debt in 2020 increased to 1.311 trillion euros and amounted to 117.1 percent of the country’s GDP, according to data from the Spanish central bank. This is the worst indicator for the country’s economy in more than 100 years.
The last time the national debt was at 117 percent in 1902, writes alEconomista.es. Overall, the figure for the year increased by 20 percentage points (or 122 billion euros) – in 2019 it was 95.5 percent. The country’s economy, against the backdrop of the coronavirus pandemic, also showed the worst result in the entire history of statistics (since 1970). Last year, Spain’s GDP plummeted 11 percent, and unemployment was above 16 percent.
Earlier it was reported that the US economy showed the worst result since the Second World War. Last year, the country’s GDP collapsed by 3.5 percent. An even worse situation was reported by the British authorities. According to data from the Bank of England, the British Budget Office and the National Statistical Office, the economic downturn in the country amid the pandemic was the worst for the kingdom since 1709.