Reuters reports that the Bank of Spain said that Spain's public debt ended 2020 at 117.1% of gross domestic product as the coronavirus pandemic and the measures imposed to curb it lifted borrowing and led to a deep economic contraction.

Debt as a percentage of GDP increased by more than 20 percentage points in 2020 from the 95.5% recorded in December 2019, the Bank of Spain's data showed.

Spain's economy shrank by a record 11% in 2020 from 2019.