Spain plans to issue gross 215.3bn euros debt in 2018

MADRID: Spain's budget ministry said on Tuesday it planned to issue a gross 215.3 billion euros ($265.14 billion) in debt in 2018 as part of its annual budget.

Net debt issuance would total 40 billion euros, the ministry said in its budget proposal document.

The government hiked its 2018 growth forecast to 2.7 percent from a previous 2.3 percent last week, as it unveiled the overdue budget draft, which however lacks parliamentary support.

The budget ministry expects to borrow 15.2 billion euros to cover social security and pension payments.