Chart of the Day: Spanish regional debt totals and as percent of regional GDP
I just wrote a post for Credit Writedowns Pro on the regional government problems in Spain. The following chart from El Pais is useful in that context. It is in Spanish but the titles are largely self-explanatory. The first column are the 17 Spanish regions. The second column shows how much the regional gross domestic product is in each region. The third column shows the corresponding outstanding debt the government of the regions has. And the last column shows you the debt as a percentage of GDP. Totals and averages are at the bottom: GDP of $1 trillion for all of Spain, with 140 billion euros of regional government debt or 13% of GDP.
In the second half of the chart, we see how much maturing debt each of the regions has. The governments have 35.8 billion maturing this year, 18.5 billion in the second half of the year. With regional governments now locked out of the markets, the Spanish government has now been forced to fund them in exchange for austerity.
(click to enlarge)
About Edward Harrison
Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.
