The Bank of Spain published quarterly Excessive Deficit Procedure (EDP) statistics showing Spain’s general government debt fell to 101.8% of GDP in 2024 Q4, down 3.3 percentage points from end-2023, while the nominal stock rose 2.9% year on year to EUR 1.62 trillion. Central government debt reached EUR 1.49 trillion (93.6% of GDP), up 3.7% year on year, and regional (autonomous) government debt rose 3.3% to EUR 336 billion (21.1% of GDP). Local government debt declined 2% to EUR 23 billion (1.4% of GDP). Social security funds debt stood at EUR 126 billion (7.9% of GDP), up 8.6% year on year, with the release attributing the increase to state loans under the scope of the budgetary extension and noting this does not affect total general government debt due to consolidation. By instrument, long-term debt securities increased 3.4% year on year, long-term loans fell 5.5%, and short-term instruments grew 11.5%; long-term liabilities accounted for 94.4% of EDP debt. The Bank of Spain indicated that a preview of February 2025 monthly general government EDP debt figures will be published on 22 April 2025 and 2025 Q1 quarterly figures on 13 June 2025.
Bank of Spain 2025-03-31
Bank of Spain reports Spain’s general government debt ratio fell to 101.8% of GDP in 2024 Q4
The Bank of Spain reported a decrease in Spain's general government debt to 101.8% of GDP in Q4 2024, despite a nominal increase to EUR 1.62 trillion. Central government debt rose to EUR 1.49 trillion, while regional and social security funds debt also increased, with local government debt declining. Long-term debt securities grew, whereas long-term loans decreased, and short-term instruments saw significant growth.