According to data released by the Bank of Spain (BdE), Spain’s public debt increased by 4.8% in 2025 compared to 2024 (an increase of €78.108 billion), reaching €1,698,681 million. This represents a new record high for a year-end closing, although the figure remained below the monthly record of €1,709,330 million registered last September.
Consequently, the total debt for all Public Administrations closed 2025 at 100.8% of GDP, which is 0.9 percentage points lower than the 2024 figure.
Breakdown by Administration
- Central Government: Debt grew by €75.630 billion (up 5.1%) to €1,549,087 million, representing 91.9% of GDP.
- Autonomous Communities: Debt increased by €5.936 billion (up 1.8%) to €341,880 million, accounting for 20.3% of GDP.
- Local government debt decreased by €2,082 million compared to 2024 (down 9.1%), falling to €20,773 million, which represents 1.2% of GDP.
- Social Security administration debt rose by €10,006 million to €136,179 million (up 7.9%), accounting for 8.1% of GDP.
At the close of 2025, the bulk of Spanish public debt was held in long-term securities (€1,440,620 million), while the remainder was distributed among loans (€177,472 million), short-term securities (€75,074 million), and cash and deposits (€5,515 million).
