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The Climate Crisis Endangers the Spanish Economy: Raising Debt 81 Points over 2050 Forecasts
2 Articles
2 Articles
A recent report states that, if we do nothing, global warming will increase the debt-to-GDP ratio by 81 percentage points in the coming decades. More information: Spain loses 209 million productive hours due to heat: the unprecedented effect of the climate crisis
Madrid.- Spanish and European Union (EU) public debt will increase "significantly" by 2050 and 2070 compared to official forecasts if early and coordinated investment in climate change mitigation and adaptation does not grow, according to a report published this Monday by News Economics Foundation (NEF). Specifically, Spanish debt ratios to Gross Domestic Product (GDP) will be 81 percentage points higher than official projections for 2050, while…
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