Link Securities | The Bank of Spain (BdE) published on Monday that Spanish public debt increased by €46.143 billion in 2024, to €1,621,515 billion, which is its highest level for an annual close. In terms of Spain’s GDP, public debt stood at 101.8% at the end of 2024, 3.3 percentage points less than in 2023. The improvement in the public debt ratio has a lot to do with the upward revision of GDP for the last five years, both in terms of growth rate and volume, carried out by the National Institute of Statistics (INE).
By institution, it should be noted that at the end of 2024, the State debt stood at €1,474 billion, which represents a year-on-year increase of 4.2%. The debt balance of the Other Units of the Central Administration, on the other hand, was €37 billion, which represents a year-on-year decrease of 9.0%.
For its part, the debt of the Autonomous Regions (ARs) stood at the end of 2024 at €336 billion, 3.4% higher than in 2023, while the debt of Local Authorities closed the year at €23 billion, 1.5% higher than in December 2023.
