FEDERACION ESPAÑOLA DE MUNICIPIOS Y PROVINCIAS
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The Local Authorities debt down to 3.4% of GDP
Debt of Local Authorities dropped one tenth of GDP in the third quarter of 2010 compared to the second quarter, according to the latest statistical bulletin of the Bank of Spain, known today.
In particular, the debt of local entities was 36.226 million euros, of which EUR 29.127 million corresponded to municipalities. This represents a decrease of 295 million euros compared to data from the second quarter, down 0.8%, of which 234 million correspond to the municipalities.
Thus, the overall debt of the government, representing 57.7% of GDP. Of that percentage, 44.1% corresponds to the central government, 10.2% to the Autonomous Communities and 3.4% to Local Authorities
