| Author (Person) | Mallet, Victor |
|---|---|
| Series Title | Financial Times |
| Series Details | 27.2.12 |
| Publication Date | 27/02/2012 |
| Content Type | News |
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The Spanish Government announced on the 24 February 2012 that it planned to arrange payment of up to €30bn in overdue bills for rubbish collection and other services owed by municipalities, as a first stage to pay a big backlog of debt from local, regional and national public authorities. this was seen as a move that would benefit suppliers but would also help to expose the true size of the country’s public sector debt. Spain’s accumulated public debt was officially due to reach 67.8% of gross domestic product at the end of 2011. But economists said bills left unpaid by the central, regional and municipal governments – and other state liabilities or contingent liabilities not yet included in official European Union calculations of public debt – meant that the true burden was rising and was much higher than the published figure. |
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| Countries / Regions | Spain |
