Spain's Public Debt Reaches Record High of 1.67 Trillion Euros in March
Public debt rises to 103.5% of GDP, marking the highest level recorded as of March 2025.
The public debt of Spain's public administrations reached historic highs of 1.67 trillion euros in March 2025, accounting for 103.5% of the country's Gross Domestic Product (GDP), according to data released by the Bank of Spain.
This figure represents an increase of 1.7 percentage points from the end of 2024 when the debt stood at 101.8%, although it is a decrease of 2.8 percentage points compared to the same period last year, when the ratio was recorded at 106.3%.
Over the past year, public debt has grown in absolute terms by 3.3%, amounting to 52.729 billion euros more in March 2025. In comparison to February 2025, the debt increased by 21.263 billion euros, representing a rise of 1.3%.
The increase in public debt in March relative to the same month last year is attributed to both the rising indebtedness of the Central Administration and the autonomous communities, as well as the Social Security system.
In contrast, municipal debt has decreased over the past year.
Specifically, the debt of the Central State Administration has risen by 4% year-on-year, reaching 1.518 trillion euros, with an increase of 59.096 billion euros over the past year, and a monthly rise of 1.4%.
Similarly, the indebtedness of the autonomous communities increased by 2.8% over the last year, totaling 338.04 billion euros, or 21% of GDP, with an increase of 1.989 billion euros from February.
The Social Security system has seen its debt grow by 8.6% over the past year, now totaling 126.174 billion euros, which is 10 billion euros more than a year ago, primarily due to loans from the State to the General Treasury of Social Security to cover its budgetary imbalance.
In comparison to the previous month, this figure remained stable.
Conversely, the indebtedness of municipalities has decreased over the past year, now standing at 22.897 billion euros, or 1.4% of GDP, which is 1.1% lower than the amount recorded a year prior.
However, compared to February, this debt increased by 334 million euros.
This figure represents an increase of 1.7 percentage points from the end of 2024 when the debt stood at 101.8%, although it is a decrease of 2.8 percentage points compared to the same period last year, when the ratio was recorded at 106.3%.
Over the past year, public debt has grown in absolute terms by 3.3%, amounting to 52.729 billion euros more in March 2025. In comparison to February 2025, the debt increased by 21.263 billion euros, representing a rise of 1.3%.
The increase in public debt in March relative to the same month last year is attributed to both the rising indebtedness of the Central Administration and the autonomous communities, as well as the Social Security system.
In contrast, municipal debt has decreased over the past year.
Specifically, the debt of the Central State Administration has risen by 4% year-on-year, reaching 1.518 trillion euros, with an increase of 59.096 billion euros over the past year, and a monthly rise of 1.4%.
Similarly, the indebtedness of the autonomous communities increased by 2.8% over the last year, totaling 338.04 billion euros, or 21% of GDP, with an increase of 1.989 billion euros from February.
The Social Security system has seen its debt grow by 8.6% over the past year, now totaling 126.174 billion euros, which is 10 billion euros more than a year ago, primarily due to loans from the State to the General Treasury of Social Security to cover its budgetary imbalance.
In comparison to the previous month, this figure remained stable.
Conversely, the indebtedness of municipalities has decreased over the past year, now standing at 22.897 billion euros, or 1.4% of GDP, which is 1.1% lower than the amount recorded a year prior.
However, compared to February, this debt increased by 334 million euros.
Translation:
•
Translated by AI
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
