Spain to start reducing debt-to-GDP ratio in 2021, Economy Minister says

Spain's debt-to-GDP ratio reached 114.1% from 97.5% a year earlier

  

MADRID- Spain expects to start reducing its deficit and debt-to-GDP ratio in 2021, Economy Minister Nadia Calvino said on Thursday, thanks to an expected economic rebound from 2020's coronavirus-induced slump.

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 revenue fell.

(Reporting by Inti Landauro, Editing by Nathan Allen) ((Nathan.Allen@thomsonreuters.com;))

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