The Bank of Spain published preliminary monthly figures for Spain’s general government debt under the Excessive Deficit Procedure (EDP) framework, showing an outstanding balance of EUR 1.622 trillion in November 2024 and a moderation in year-on-year growth to 2.9%. By subsector, State debt stood at EUR 1.475 trillion (up 4.2% year-on-year), while other central government units recorded EUR 37 billion (down 8.2%), a group that includes entities such as SAREB, BFA, FADE and FROB. Social Security debt reached EUR 126 billion (up 8.6%), which the release attributes to State loans to the General Treasury of Social Security to finance its budget imbalance. Regional government debt rose to EUR 335 billion (up 3.2%), local government debt was EUR 23 billion (slightly below the level a year earlier), and intra-general-government consolidation increased to EUR 374 billion (up 9%). The Bank of Spain noted that the monthly debt figures are compiled from advance information and are subject to revision, including from possible reclassifications. The advance EDP debt data for December 2024 are scheduled for publication on 17 February 2025, and the quarterly EDP debt data for the fourth quarter of 2024 on 31 March 2025.
Bank of Spain 2025-01-17
Bank of Spain reports Spain’s general government debt at EUR 1.622 trillion in November 2024 with annual growth slowing to 2.9%
The Bank of Spain released preliminary data for Spain's general government debt under the Excessive Deficit Procedure, reporting an outstanding balance of EUR 1.622 trillion in November 2024 with a year-on-year growth moderation to 2.9%. State debt increased to EUR 1.475 trillion, while Social Security debt rose to EUR 126 billion due to State loans. The figures are based on advance information and may be revised.