Public debt fell by 0.5% in April and stood at around 112% of GDP

MADRID, 20 Jun.

Public debt fell by 0.5% in April and stood at around 112% of GDP


The debt of the public administrations as a whole registered a decrease of 0.57% in April compared to March, reaching 1.526 trillion euros, which is around 112% of GDP, taking the nominal GDP of the last four quarters, according to the data released this Tuesday by the Bank of Spain.

In the last year, public debt has grown by 5.6%, with 81,035 million euros more, mainly as a consequence of the higher expenses derived, first, from the pandemic crisis and, later, from the economic consequences of the war in Ukraine and rising prices.

Spain has managed to slightly moderate the weight of its indebtedness over GDP from the 113.2% registered at the end of 2022 to around 112% until April of this year.

The monthly drop in debt in April is mainly due to the moderation in debt of both the State and the autonomous communities, although the debt of city councils rose slightly and that of Social Security remained unchanged.


Specifically, in April the State debt stood at 1,356 trillion euros, which represents a decrease of 0.54% compared to March, with 7,487 million euros less in just one month, while in the last twelve months it has increased by 7.2% and has added 92,000 million more.

For their part, in the fourth month of the year the autonomous communities have reduced their debt compared to the month of March, up to 321,513 million euros, 698 million euros less (-0.2%), while in the interannual rate it experiences a rebound of 3.5%.

The municipalities, on their side, have registered a debt in April of 23,403 million euros, 1.6% more than the previous month, while in the last year it has rebounded by 4.2%.

Finally, Social Security indebtedness has remained stable in April, with 106,170 million euros, only two million less than in March, but in the last 12 months it has risen by 7%, thus remaining at maximums.

The Bank of Spain explains that the increase in Social Security indebtedness in the last year is due to the loans granted by the State to the General Treasury of the organization to finance its budgetary imbalance.