The Balearics are still trying to fight growing levels of poverty.

19-12-2013Teresa Ayuga

Palma.—The number of people living in poverty in Spain has risen by 4.4 million since the country was battered by an economic crisis to reach 11.7 million, or one in four, a leading Catholic charity said yesterday.
And, here in the Balearics, 12.2 percent of the population claim to have no financial savings what so ever, according to the results of a  survey carried out by the on line retailer into the level of personal debt in Spain.
According to the findings, 22.5 percent of people have less than 3,000 euros saved up while 16.3 percent have less than 1,000 euros.
But, the Catholic charity Caritas has revealed that a large section of the Spanish population is suffering.
The proportion of people living in social exclusion stood at 25.1 percent in mid-2013, up from 16.3 percent in 2007, a year before a decade-long housing bubble collapsed sending the economy into a tailspin, Caritas said.


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