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SPAIN FACES THE WORST ECONOMIC SITUATION IN 120 YEARS

... 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 ... ... 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 % and reached the level of 1902. Then the country lost its last colonies and experienced a political ...

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