Spain’s public debt rises to €1.54tn, up 27.5%, under Sánchez’s government

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Public debt has risen from €1.20 to €1.54 trillion during the last five years of socialist government. It has risen by €332,768 million, 27.5% from the €1.2 trillion at which it closed in 2018.

According to data from the Bank of Spain (BdE), which was reported yesterday by Europa Press, in absolute terms the debt of all public administrations in Spain reached €1.541 trillion in May, which represents a new record high, after growing by more than 1% compared to April. In year-on-year terms, Spain’s public debt increased by 5.8% in May (€85,176 million). In relative terms, debt remains at around 113% of Gross Domestic Product (GDP), taking nominal GDP for the last four quarters.

Central government debt has grown even more since 2018, by 32.5%, rising from €1.034 trillion to €1.371 trillion. However, the largest percentage increase in debt over the five-year period has been in Social Security, which has risen from €41.194 billion to €106.169 billion, soaring by 157%.

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