The Bank of Spain confirms: Spanish debt has decreased thanks to economic growth

The debt of all public administrations was reduced in the third quarter of the year to 109.9% of GDP, 1.3 points less compared to the previous quarter and 4.1 points less than a year ago , although it marked a new record amount of 1,577,266 million euros. According to data released Friday by the Bank of Spain, this reduction in the debt/GDP ratio was possible despite the record amount of debt thanks to the growth of the economy.

The central government reduced its debt to 99.9% of GDP, 0.8 points less than in the second quarter and 3.1 points less than a year earlier, to a record amount of 1,434. 695 million euros. The autonomous communities reduced their debt to 22.3% of GDP, or 0.9 points less in quarterly comparison and 1.6 points less in annual terms, also reducing its amount by 7.422 million, to 319.924 million euros .

On the contrary, local companies, with a debt of 23.255 million, represent almost half of the record set in 2012 and reduced the GDP ratio by a tenth compared to the previous quarter of last year, to 1.6% . The Social Security administrations maintained their debt almost unchanged at 106.172 million, or 7.4% of GDP, or 0.1 point less than the previous quarter and a year earlier.

The sum of the debt of the subsectors exceeds the total amount of public debt because there are 302.817 million recorded both by the State and by other administrations and which come from the regional liquidity fund, the payment fund suppliers and loans to Security. Social.

Which autonomous communities are the most and least in debt?

The most indebted autonomous community remains the Valencian Community, with a debt of 41.2% of its regional GDP, even if it decreased by 2.3 points over the quarter and 2.6 points over one year. Next come Castile-La Mancha (31.2% of its GDP), Catalonia (31% of its GDP) and Murcia (30% of its GDP).

All the autonomy reduced their debt last year, with the exception of the Canary Islands, where it went from 13.1 to 13.2% of their GDP. However, the Canary Islands are the fourth least indebted community with Navarra (13.1% of its regional GDP), Madrid (13%) and the Basque Country (12.7%).

Amounting, Catalonia comes first with 84.549 million in debt, followed by the Valencian Community with 55.235 million, although in both cases it reduced the balances in the quarterly comparison, specifically, by 2.251 and 2.011 million, respectively.

Madrid remains the most indebted city. Among the municipalities with more than 300,000 inhabitants, the highest debt continues to be that of Madrid, with 1,888 million, in line with that of the previous quarter and almost 100 million less than a year ago, as well that well below the record set in 2012. at almost 8 billion.

Behind are Barcelona with 1.158 million, Zaragoza with 601 million, Malaga with 255 million, Murcia with 251 million, Seville with 234 million, Valencia with 198 million, Cordoba with 167 million, Palma with 154 million and Valladolid with 150 million. Below are Bilbao with 31 million euros, Las Palmas with 1 million and Alicante below 1 million euros with an unspecified figure.

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