Is is feared that Spaniards might owe debt which is equivalent to a brand new mercedez.
At the same time, public money owed reached a whopping 110.9 per cent of GDP and a new record high of €1.1 TRILLION in June.
In one month alone €18.549 million of public debt was added to the total, to breach 100 per cent of GDP for the third time since early 2015.
It meant debts topped the highest level in almost a century in June.
Spanish public debt exceeded 100 per cent of GDP between 1900 and 1909, after reaching its maximum level of 149 per cent of GDP in 1881.
The country had its lowest level in 1975 at 7.3 per cent of GDP, according to data from the International Monetary Fund (IMF).
The Ministry of Economy and Competitiveness said the debt indicator has a significant seasonal component and - taking this into account - insisted the debt is still within "the deceleration trend started in 2013".
The government believes it will meet the target set in the stability program to end the year with 99.1 per cent of GDP, one tenth less compared to the end of 2015.
The largest increase in debt has been registered by the State, that added €12.525 million in June and reached a new high (€938.971 million).
Spanish regions have also set another record in €273.843 million, after increasing their debt by €7.093 millions in June, while local corporations have reduced their debt by €929 million to reach €35.269 million.
Social Security has also reduced its debt by 5 million, bringing the total down to €17.174 million.
It comes after President Mariano Rajoy said Spanish credit abroad would be "severely damaged" if the country holds third general elections.
The leader said not being able to form government and not being able to approve the State Budget would have a negative impact "on the economy and, therefore, in the way Spanish people live."
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