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Public debt remained stable at over 1.5 trillion and 116% in September

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The European Central Bank (ECB) and other international organizations have warned about this in the past few hours. High public debt is a major problem for major economies in the context of the current uncertainties – due to the war and the energy crisis – and in which economic conditions are simultaneously tightening. In Spain, all public administration loans It climbed to an all-time high of 1.504 billion euros in September. It increases by 0.8% compared to the previous month and is equivalent to 116% of GDP (its weight in relation to the economy has decreased by only one tenth compared to August and is 5.9 points lower than that recorded in the third quarter of 2021, when it reached 121.9% of GDP) .

According to data published by the Bank of Spain (BdE) on Thursday, Public administration liabilities increased by 5% compared to the same month last year., a total of 71,715 million more. This increase is due, above all, to higher costs arising from the crisis caused by the Covid pandemic and the Russian invasion of Ukraine, and from higher energy prices and inflation in general.

Although the public debt ratio has been gradually declining in recent months, it remains above the 115.2% forecast by the government in the stability plan sent to Brussels last April in the absence of data for the last quarter of the year. In 2025 it is aimed at 109.7% of variable wealth. At the moment Brussels has suspended fiscal rules that force countries to stick to debt and deficit targets, although the European Commission is in the process of reviewing the mechanism and is considering introducing less concrete but tougher sanctions.

The The largest increase has been due to central government debt, which assumes the economic impact of past crises. State claims rose 6.8% year-over-year to 1.3 trillion, while Social Security-making administrations totaled 99,192 million, an 8% increase over the previous year.

As far as regional administration is concerned, Autonomy’s debt increased by 0.9% to 315,015 million, while the volume of domestic corporations increased slightly by 0.1% to 22,369 million. Consolidation in public administration (debt held by different administrations) increased by 4.6% year-on-year to 307,961 million euros.

Source: lainformacion.com

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