The International Monetary Fund has lowered it’s forecast of Spains national debt, it was announced yesterday.
In their latest Fiscal Monitor report, they said that the public deficit would fall to 4.9% of GDP for this year, and that the nations debt would end up at 113.6% of GDP for this year, and down to 109% by 2025. In 2020 it stood at 120% of the national gross domestic product.
Whilst Spain will continue to have one of the highest levels of debt, it is below that of Italy and Greece.
The Government said that the report from the IMF confirms the “fiscal responsibility” of the coalition.