Spanish public debt rises in August

MADRID: Spanish debt rose by 2.4 billion euros ($2.8 billion) in August from a month earlier, the Bank of Spain said on Wednesday, reversing last month's fall.

Debt in terms of economic output stood at 98.0 percent, according to Reuters calculations using gross domestic product figures from end-June 2017 to end-June 2018 according to the National Statistics Institute (INE).

That compared to a debt-to-GDP ratio of 97.9 percent in July.

Total debt in August was 1.162 trillion euros, according to the Bank of Spain.

Spain ended 2017 with a debt-to-GDP ratio of 98.3 percent and the government aims to cut debt to 97.0 percent of its GDP by the end of this year.