MADRID, 17 Mar. (EUROPA PRESS) -
The debt of the public administrations as a whole fell in January to 1.489 trillion euros, which represents a decrease in relative terms of 0.8% compared to the previous month, according to data published this Friday by the Bank of Spain.
In the interannual rate, it increased by 4.5% compared to the same month last year, with 64,705 million more, as a result of lower income and higher expenses derived from the pandemic crisis and more recently due to the war in Ukraine.
The public debt to GDP ratio has been falling in recent months and at the end of 2022 -the latest confirmed data- stood at around 113.1%, below the Government's target for the whole year (115, 2%), in accordance with what is established by the Executive in the Stability 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 January compared to the end of the year is mainly due to the notable drop in State indebtedness. The debt of the autonomous communities and local corporations has also decreased, while that of Social Security has remained practically at the same figure.
By administrations, the State debt stood at 1,319,213 million euros in January, 6.2% more than a year ago, but 0.9% less than last month.
For its part, the debt of the autonomous communities fell by 0.5%, to 315,285 million euros compared to the previous month, although it increased by 1.6% compared to the same period last year.
In the case of local corporations, their debt fell slightly in January compared to December, with 253 million fewer, to 22,813 million, while it rose 3.3% compared to the same month in 2022.
The debt balance of the Social Security Administrations stood at 106,170 million, the same figure as a month ago, although it is 9.2% more than a year earlier. This increase is due to the loans granted by the State to the General Treasury of Social Security to finance its budgetary imbalance.