According to preliminary data published by the Bank of Spain (BdE), the outstanding balance of Spanish Public Administrations’ debt stood at €1.710 trillion in September, representing a 4.5% increase year-on-year, while the increase compared to August was 0.1%. The September figure marks a new historical record.
The BdE reported that in September, central government debt grew by 4.6% year-on-year, reaching €1.558 trillion, which represents 94% of GDP.
For their part, the debt of the Autonomous Communities (Regional Governments) amounted to €339.5 billion at the end of September, an interannual increase of 1.9%. The debt of the CCAA is equivalent to 20.5% of GDP. In turn, the debt of Local Corporations (Local Authorities) was €22.52 billion in September, a figure 2.6% lower than that of the same month in 2024. Relative to GDP, this debt represents 1.4%.
Finally, the debt balance of the Social Security Administrations stood at €126.17 billion in September, which represents a year-on-year increase of 8.6% and a weight relative to GDP of 7.6%. This increase was a consequence of the rise in loans granted by the State to the General Treasury of the Social Security (TGSS) to finance its budget imbalance.
Thus, and according to preliminary data from the Bank of Spain (BdE), the Public Administrations debt-to-GDP ratio, according to the Excessive Deficit Procedure (EDP) protocol, relative to nominal Gross Domestic Product (GDP) stood at 103.2% in September 2025, which represents a one-point decrease compared to a year ago.
