Public debt grows by 12,344 million in the first quarter and stands at 98% of GDP

The debt of all public administrations stood at 1,046 billion euros in the first quarter of this year, 12,344 million euros more than in the last quarter of the previous year, which already stands at 98% of GDP, according to data from the Bank of Spain.

This percentage is almost one point lower than the Government’s objective for the whole year, which stands at 98.9%, according to the Stability Program update last April 30.

While in relation to the previous quarter

In year-on-year terms, public debt rose 5.05% in the first quarter, while in relation to the previous quarter, it registered an increase of 1.19%.

Of the total public debt in the hands of public administrations, 86.7% (907,218 million euros) corresponds to the indebtedness of the Central Administration, while the autonomous communities account for 22.9% of the total debt ( 240,411 million) and local corporations, 3.66% (38,302 million). Social Security, on the other hand, has 1.6% of all indebtedness (17,190 million).

Regarding the evolution of the debt in the first quarter in each of the administrations, both the central State and the autonomous communities have increased their indebtedness with respect to the previous quarter, with an increase of 1.2% in the case of the State and a rise of 1.55% in the regions.

On the contrary

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The municipalities have slightly reduced their debt in the first three months of the year, with a fall of 0.21%, while Social Security has maintained its debt almost stable.

By autonomous communities, Catalonia (64,792 million euros), Comunidad Valenciana (37,615 million), Andalusia (28,534 million) and Madrid (26,413 million) continue to concentrate 65.4% of all debt in the hands of the autonomous governments. In all these cases, except in Andalusia, the debt grew compared to the previous quarter.

Below are the communities of Castilla-La Mancha

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(12,865 million), Galicia (9,906 million), the Basque Country (9,542 million), Castilla y León (9,344 million), Balearic Islands (7,984 million) and Murcia (7,214 million).

The Aragon table (6,064 million), the Canary Islands (6,056 million), Asturias (3,633 million), Extremadura (3,307 million), Navarra (3,281 million), Cantabria (2,517 million) and La Rioja (1,345 million) close.

As a percentage of GDP, the Valencian Community, with a debt that amounts to 37.5%, continues to lead the most indebted regions in relation to their wealth, followed by Castilla-La Mancha, with 33.7%, and Catalonia, with 32.2%. On the other hand, the Community of Madrid (13.2% of GDP), the Canary Islands (14.5%) and the Basque Country (14.7%) are the ones with the lowest debt with respect to GDP.

As for the municipalities, among which they have more than half a million inhabitants, Madrid, with a debt of 5,892 million euros, remains at the head of the most indebted local corporations, a figure that contrasts with the indebtedness of the Barcelona city council, located at 871 million in the first quarter.

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