The Spanish sovereign debt has reached 774.55 billion euros in the first three-month period of the year, the Bank of Spain said on Friday.

Compared to figures from last year in the same period, the debt of the Spanish public administration has increased 5.39 percent, which represents a record high of 72.1 percent of the country's GDP.

The public debt in Spain includes the central administration debt, along with the regional and local administration debts.

The most significant increase was within the central administration. The debt has risen up to 592.572 billion euros, which represents a 5.92-percent increase and a 55.2-percent of GDP.

These data affect the Spanish economy credibility, whose fragility causes severe fluctuations in the IBEX-35 stock market in Madrid.

Since the Spanish government has announced the financial rescue for its banks, the Spanish risk premium has passed the 500 point mark, setting a new record on Thursday when it gained 551.5 points.