T.C. | More than half of the debt, 43.5 billion, corresponds to the central administration, the government, while local councils owe almost 20 billion, the Autonomous Communities 10 billion and the Social Security another 10 billion. And nothing seems to indicate that these figures will improve in 2021. In breach of the law on late payment – which requires payment within 30 days – the central government was paying in January 2021 in almost 40 days.
Spain’s public debt
Spain’s political debate is going on between two irreconcilable adversaries, each one with its own issues. Meanwhile, in the back room where the accounts are done, there is hard work going on to refinance the public and private debt which matures every day. Without some tailwinds, Spain (BBB) could once again find itself facing serious problems.
Spanish public administration debt fell by €12.7 billion in July to €1.040 trillion
MADRID | By Francisco López | In the midst of the euro crisis, Spanish political leaders and some economists showed off about good figures of Spain’s public debt compared to Italy’s. Then, this indicator was a good example that reflected the strengh of national public finances. Now it has turned into a constraint, although fortunately investors do not doubt on the country’s ability to pay back.