According to data from the Bank of Spain (BdE), public administration debt stood at 99.9% of GDP in July, 2.4 percentage points lower than a year earlier, dropping below 100% for the first time since February 2020. In absolute terms, the debt balance rose to EUR 1.744 trillion, a 3.8% increase year-on-year, although it decreased from the EUR 1.763 trillion reached in June.
By level of government, central government (State) debt reached EUR 1.589 trillion, up 4.2% from a year earlier, equivalent to 91% of GDP. Debt held by other Central Administration units stood at EUR 31 billion, down 10.5% year-on-year (1.8% of GDP). Meanwhile, Social Security administration debt rose to EUR 136 billion, a 7.9% increase, equivalent to 7.8% of GDP. This increase is mainly attributable to loans granted by the State to the Social Security General Treasury.
Among regional and local governments, Autonomous Community debt reached EUR 349 billion, up 2.7% year-on-year and equivalent to 20% of GDP. Finally, local government debt stood at EUR 22 billion, or 1.2% of GDP, after declining by 7.9% compared to July 2025.
