In the period up until June 2014, Government debt has risen above one trillion euros for the first time and now stands at 98.4% of GDP.
The Government forecast for this year anticipates that the debt will reach 99.5% of GDP. Spanish public debt has almost tripled since the start of the financial crisis in 2007, from 36.3% of GDP to almost 100% in 2014.
A few months ago the Minister of Economy, Luis de Guindos, blamed the rise in public debt on the accumulated deficit, financial assistance to banks and such specific measures as actually making payments to suppliers.
Historically, public debt was 149% of GDP in 1881 (the first year it was counted), 100% between 1900 and 1909 and was at its lowest, 7.3% of GDP, in 1975.