Spanish General Government debt stood at €1.729 trillion in May 2026, a 4% increase compared to the same month of the previous year, according to data published by the Bank of Spain (BdE). However, public debt decreased by 0.58% relative to the historical high recorded in March of this year, when it reached €1.739 trillion.
Meanwhile, the General Government debt-to-GDP ratio, measured according to the Excessive Deficit Procedure (EDP), stood at 100.2% of nominal Gross Domestic Product (GDP) in May 2026. This represents a two-percentage-point decrease compared to the same period last year—a decline driven by persistent inflation (3.2%) that continues to weigh heavily on the general population.
Breakdown by Level of Government
- Central Government: State debt rose to €1.575 trillion in May, up 4.4% from a year earlier, equivalent to 91.2% of GDP. For Other Central Government Units, the debt balance was €33 billion (1.9% of GDP), representing a year-on-year decrease of 6.3%.
- Social Security: Social Security Administration debt reached €136 billion in May, a 7.9% increase compared to the same month in 2025, an amount equivalent to 7.9% of GDP.
- Regional and Local Governments:
- Autonomous Communities: Regional government debt stood at €343 billion in May (19.9% of GDP), following a 2.1% increase compared to the same month of the previous year.
- Local Corporations: Local government debt decreased by 9.4% year-on-year, dropping to €21 billion, which accounts for 1.2% of GDP.
