MADRID, 20 Dic. (EUROPA PRESS) -
The debt of the public administrations as a whole registered in October its second monthly fall so far this year, with a decrease of 0.4% compared to the previous month, subtracting 6,645 million euros in one month, reaching 1.497 trillion, according to data published this Tuesday by the Bank of Spain.
The debt falls like this after registering its historical maximum in September with 1,503 trillion euros, although it moderated its weight in GDP to 116%.
Although the public debt to GDP ratio has been falling in recent months and now stands at around 116%, it still slightly exceeds the Government's target for the whole year (115.2%), in accordance with what was established by the Executive in the Stability Plan sent to Brussels at the end of April, as well as in the budget plan.
The scenario proposed by the 2022-2025 Stability Program shows a progressive decline in the deficit over the four years, until the debt/GDP ratio stands at 109.7% in 2025.
The drop in debt in October is mainly due to the drop in State indebtedness, which thus breaks the upward trend that it had been recording for months due to the need to assume an extra spending effort due to the impact of the coronavirus crisis and now of the war in the Ukraine after the invasion of Russia.
Compared to the month of October last year, public debt has increased by 75,347 million euros, which represents a rise of 5.3%, in a context now marked by the economic impact of the war in Ukraine and the measures adopted to alleviate the rise in prices.
By administrations, the State debt fell in the tenth month of the year to 1,321,843 million euros, 0.5% less compared to the previous month and 7% more compared to last year's data.
For its part, the debt of the autonomous communities grew by 0.4% monthly and rose slightly by 1.5% year-on-year, to 316,127 million euros in the tenth month of the year.
On their side, local corporations slightly reduced their debt by 1.09% in October compared to the previous month, to 22,038 million euros, while it fell by 1.8% compared to the same month last year.
Finally, the debt of the Social Security administrations remained practically at the same figure as the previous month, at 99,194 million euros, although it increased by 8% compared to the same month last year due to the loans granted by the State to the General Treasury of Social Security to finance its budgetary imbalance.