Spain's public-sector debt grew 8.58 percent in the fourth quarter of 2013 to finish the year at 960.6 billion euros ($1.33 trillion), equivalent to a record-high 93.9 percent of the country's gross domestic product.

Despite the high level of indebtedness, Spain's public debt for 2013 came in below the government's target of 94.21 percent of GDP.

The biggest increase in absolute terms corresponded to the national government, whose debt rose last year to 81.7 percent of GDP, up from 73.9 percent of GDP at the close of 2012, according to Bank of Spain figures published Friday.

But regional debt rose more on a relative basis, climbing 11.51 percent to 206.8 billion euros, also a record high.

By contrast, local government indebtedness fell 1.07 percent to 41.5 billion euros and the debt of Spain's social security system inched down 0.01 percent.

Last month, Economy Minister Luis de Guindos noted that Spain's public debt has climbed from less than 40 percent at the onset of the global financial crisis in 2008 to its current level of around 94 percent.

He attributed the rise in public-sector debt to high budget deficits in recent years; specific measures such as payment of overdue bills to suppliers and the Regional Liquidity Fund, which helps cover the financing needs of Spain's autonomous communities; and the program to prop up Spain's ailing banking sector. EFE