According to data from the Bank of Spain (BdE) released on Friday, the debt of Spanish public administrations as a whole rose in Q1’21 to 1.392,733 trillion euros, a record high. This figure represents 125.3% of
of Spain’s Gross Domestic Product (GDP). In the last year, public debt has increased by 168.213 billion euros, which represents an increase of 13.7%. It should be recalled that at the end of 2020 this variable represented 119.9% of GDP.
By administrations, it is worth noting that the public debt of the State rose in Q1’2021 to 1.247,876 trillion euros (up 14% year-on-year), which represents 112.3% of GDP. This is an increase of 4.7 percentage points with respect to the end of 2020, marking its highest ratio in history.
The autonomous regions’ debt grew by 3% year-on-year to 269.348 billion euros, equivalent to 27.7% of GDP. However, local corporations reduced their debt by 3.3% in Q1’2021 from a year earlier to 22.115 billion euros, which represents 2% of GDP, the same ratio as at end-2020.
Meanwhile, Social Security administrations’ debt rose in Q1’2021 to 85.355 million euros, an all-time high after having increased by 30.330 million euros in a single year (+55.1%).
