CdM | In July, public administration debt moderated its weight on gross domestic product (GDP) to 102.3%, a decrease of 1.9 percentage points compared to a year earlier. In absolute terms, it stood at €1.68 trillion, with a year-on-year growth rate of 3.9%, according to data from the Excessive Deficit Protocol published by the Bank of Spain.
By subsector, central government debt stood at €1.525 trillion, with a year-on-year increase of 4.1%, representing 92.9% of GDP. For other central government units, the balance was €35 billion (2.1% of GDP), representing a decrease of 8.5% compared to the previous year’s figure.
With regard to regional administrations, the debt of the autonomous communities stood at €340 billion in July, equivalent to 20.7% of GDP, with a year-on-year variation of 1.6%, while the debt of local councils stood at €23 billion in July (1.4% of GDP), 1.6% lower than a year earlier.
For its part, the debt balance of the Social Security Administrations stood at €126 billion, 8.6% more than a year earlier and corresponding to 7.7% of GDP. This increase is due to the loans granted by the State to the General Treasury of the Social Security to finance its budgetary imbalance.
On the other hand, the consolidation of the general government as a whole, i.e. the debt held by the different subsectors that make up this sector, stood at €369 billion, an increase of 2.3% over the previous year, representing 22.5% of GDP.
By instrument and maturity, both debt issued in long-term securities and loans with a maturity of more than one year recorded positive year-on-year growth rates of 4.5% and 1.1%, respectively. Meanwhile, short-term instruments showed a negative year-on-year variation rate of 0.8% this month.
