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Capital flight from Spain hits â‚¬97 bn

Capital flight from Spain hits â‚¬97 bn

01 June 2012 11:49 (UTC +04:00)

Baku - APA-Economics. Investors pulled a record amount of money out of Spain during the first quarter, official data shows, in a sign of deteriorating confidence in the country’s debt-ridden economy, APA reports citing FT.

Capital outflows totalled 97 billion euros ($124 billion) during the first three months of the year, the highest amount since records started being kept, the Bank of Spain said on Thursday.

The figure compares to a net entry of capital of 20.9 billion euros during the first quarter of last year.

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