The Bank of Spain published monthly advance data showing Spain’s general government debt (Excessive Deficit Procedure concept) stood at EUR 1.622 trillion in December 2024, up 2.9% year on year. The debt-to-nominal-GDP ratio for 2024 was 101.8%, down 3.3 percentage points from end-2023 and 22.4 percentage points below the March 2021 peak (124.2%). By subsector, State debt was EUR 1.474 trillion (+4.2% year on year) and other central government units were EUR 37 billion (-9%). Social Security debt rose to EUR 126 billion (+8.6%), attributed to State loans to the General Treasury of Social Security to finance its budget imbalance. Autonomous community debt increased to EUR 336 billion (+3.4%), while local government debt was EUR 23 billion (-1.5%). Consolidation within general government rose 8.7% to EUR 375 billion. The Bank of Spain scheduled the next monthly advance release (January 2025) for 17 March 2025, and the quarterly release for general government debt for the fourth quarter of 2024 for 31 March 2025.
Bank of Spain 2025-02-17
Bank of Spain reports general government debt fell to 101.8% of GDP in 2024 with the stock reaching EUR 1.622 trillion
The Bank of Spain reported Spain's general government debt at EUR 1.622 trillion in December 2024, a 2.9% increase year on year, with a debt-to-GDP ratio of 101.8%, down from 124.2% in March 2021. State debt rose to EUR 1.474 trillion, while Social Security debt increased to EUR 126 billion due to State loans. Autonomous community debt reached EUR 336 billion, and local government debt decreased to EUR 23 billion.