Spain's public debt falls for the first time since October

MADRID: Spanish public debt fell for the first time in six months in April, Bank of Spain figures showed on Monday, slipping to 96.1 percent of gross domestic product, according to Reuters calculations, from 96.8 percent at the end of March.

Spanish public debt has soared from 36.3 percent of GDP in 2007 amid a deep economic slump but is expected to reach a ceiling next year before edging lower.

Spain's government expects debt as a ratio of economic output to end 2014 at 99.5 percent and 101.7 percent of GDP a year later before falling back to 98.5 percent by 2017.

In gross terms, Spanish public debt was 982.8 billion euros ($1.34 trillion) in April compared with 989.9 billion euros a month earlier.