The year 2024 ended with consolidated public spending exceeding €700 billion. The final figure, which was revealed this Thursday, amounts to €722.846 billion, an absolute record in history. This fabulous amount is about €230 billion higher than the same concept in 2018, the year Pedro Sánchez came to power as Prime Minister after winning a vote of no confidence against Mariano Rajoy, explains La Razón newspaper.
The accounts for 2024 closed with a consolidated public deficit of 3.15% of GDP, according to the latest data from the Ministry of Finance, which on a GDP of €1.6 trillion corresponds to about €50 billion. Thus, during Pedro Sánchez’s presidency, public spending has not only increased from €500 billion to nearly €723 billion but has also accumulated deficits amounting to €438 billion.
