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SPAIN FACES THE WORST ECONOMIC SITUATION IN 120 YEARS

The past year was not easy for Spain: the country reported the largest public debt in a century. Its size exceeded 1.3 trillion euros and amounted to more than 117% of the kingdom's GDP. At the very beginning of the pandemic, many economists sounded the alarm, stating the possible large-scale negative consequences. Throughout the year, the states, balancing between the health of their citizens and the need to maintain the economy, demonstrated different models for solving one common problem. In Spain, in particular, the pandemic hit hard on the economy – through the increased social spending and accumulated debts. In 2020 alone, the kingdom's national debt rose by 20 ...

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