ANL 28.06 Decreased By ▼ -0.11 (-0.39%)
ASC 16.62 Decreased By ▼ -0.14 (-0.84%)
ASL 23.94 Decreased By ▼ -0.01 (-0.04%)
AVN 91.13 Decreased By ▼ -0.53 (-0.58%)
BOP 9.68 Decreased By ▼ -0.03 (-0.31%)
BYCO 9.90 Decreased By ▼ -0.03 (-0.3%)
DGKC 113.68 Increased By ▲ 0.18 (0.16%)
EPCL 48.84 Decreased By ▼ -0.77 (-1.55%)
FCCL 21.81 Increased By ▲ 0.15 (0.69%)
FFBL 27.53 Decreased By ▼ -0.17 (-0.61%)
FFL 18.13 Increased By ▲ 0.14 (0.78%)
HASCOL 14.82 No Change ▼ 0.00 (0%)
HUBC 86.28 Decreased By ▼ -0.18 (-0.21%)
HUMNL 7.40 Increased By ▲ 0.05 (0.68%)
JSCL 29.41 Decreased By ▼ -0.19 (-0.64%)
KAPCO 38.39 Increased By ▲ 0.08 (0.21%)
KEL 4.21 Decreased By ▼ -0.03 (-0.71%)
LOTCHEM 16.00 Increased By ▲ 0.04 (0.25%)
MLCF 43.44 Decreased By ▼ -0.11 (-0.25%)
PAEL 40.49 Decreased By ▼ -0.11 (-0.27%)
PIBTL 13.04 Increased By ▲ 0.04 (0.31%)
POWER 11.74 Decreased By ▼ -0.04 (-0.34%)
PPL 97.93 Increased By ▲ 0.48 (0.49%)
PRL 25.43 Decreased By ▼ -0.05 (-0.2%)
PTC 9.78 No Change ▼ 0.00 (0%)
SILK 1.21 No Change ▼ 0.00 (0%)
SNGP 46.50 Increased By ▲ 0.01 (0.02%)
TRG 97.18 Decreased By ▼ -0.20 (-0.21%)
UNITY 31.70 Increased By ▲ 0.12 (0.38%)
WTL 1.15 Decreased By ▼ -0.03 (-2.54%)
BR100 4,856 Decreased By ▼ -11.74 (-0.24%)
BR30 24,507 Decreased By ▼ -1.43 (-0.01%)
KSE100 45,931 Decreased By ▼ -58.35 (-0.13%)
KSE30 19,110 Decreased By ▼ -68.04 (-0.35%)
World

Spain to start reducing debt-to-GDP ratio in 2021

  • Already in 2021 we expect that, thanks to the strong growth, we will be able to start reducing our deficit and our debt-to-GDP ratio.
  • The budget deficit is likely to have reached the equivalent of 11.3% of GDP in 2020, a government forecast.
14 Jan 2021

MADRID: Spain expects to start reducing its deficit and debt-to-GDP ratio in 2021, Economy Minister Nadia Calvino said on Thursday, following an expected economic rebound from last year's coronavirus-induced slump.

"Already in 2021 we expect that, thanks to the strong growth, we will be able to start reducing our deficit and our debt-to-GDP ratio," she told a business conference in Madrid.

The Spanish government expects the country's economy to bounce back in 2021 with growth of more than 7% following the more than the 11% contraction estimated for 2020.

In the third quarter Spain's debt-to-GDP ratio reached 114.1% from 97.5% a year earlier as spending rose dramatically to cushion the blow from the pandemic, while restrictions on business activity reduced revenue.

The budget deficit is likely to have reached the equivalent of 11.3% of GDP in 2020, a government forecast said, and is expected to narrow to 7.7% this year.