Spain’s Debt To Reach Almost 100 Percent of National Production

Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

A budget proposal submitted to the Spanish Parliament Monday shows the country’s debt in 2014 will reach almost 100 percent of the country’s production output.

The debt-to-gross domestic product ratio will reach 99.8 percent by the end of 2014. This will rise from 94.2 percent by the end of 2013.

The public debt of Spain has almost tripled since the collapse of a property boom in 2008 that lead to a five-year long economic recession. The debt levels are expected by analysts to continue rising for at least three more years.

“The budget for 2014 is an economic recovery budget. This budget will help us return to growth and create jobs in our country,” Treasury Minister Cristobal Montoro told reporters.

The budget is expected to pass without dissent as the ruling party has absolute control of Parliament.

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