Balearic residents among the deepest in debt in Spain

CITIZENS of the Balearics, Madrid and Catalonia are the ones most in debt, according to figures published yesterday by the Bank of Spain.
It said that the combined debt of individuals and companies exceeded, for the first time, the one billion euro barrier after rising 24.88 percent in 12 months. At the end of September, credit extended to individuals and companies rose to 1'075 billion euros, a figure which has doubled in just four and a half years. This gives an average figure of 24'400 euros of debt for every Spaniard. The amount deposited also grew 22.04 percent from September 2004 to September 2005, being 842.591 million euros at the close of the third quarter of 2005. This is 19'100 euros per Spaniard which is still way behind the amount of debt.