FEDERACION ESPAÑOLA DE MUNICIPIOS Y PROVINCIAS
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The Local Authorities debt down to 3.3% of GDP
The Local Government debt fell in the last quarter of 2010 to 35,442,000 euros, equivalent to 3.3% of GDP, one tenth less than in the third quarter of this year, according to the Bank of Spain known today.
This figure, however, an increase of 2.1% compared to total debt of local entities. Of this, 28.769 million euros related to municipalities and the remaining 6.357 million euros, provincial councils and island councils.
Spanish public debt in 2010 was 638.767 million euros, and stood at 60.1% of GDP. Of this percentage, 45.9% of GDP, it is for central government debt, 10.9% to the Autonomous Communities and 3.3% to Local Authorities
