Spain's public debt hits record high in 2012

Public debt of Spain's economy recorded its historical high at the end of 2012 mainly due to more requirements for federal and autonomous funds. Spain's public debt reached 84.1% of the country's gross domestic product in 2012 compared to 69.3% in 2011, while the ceiling set by the EU is 60%. However, the EU was expecting the debt to grow to 88.4% in 2012 and it forecast a level of 95.8% for 2013.