The Bank of Spain published its monthly advance on Spanish general government debt under the Excessive Deficit Procedure (EDP), showing the debt ratio at 102.3% of nominal GDP in May 2025, down 2 percentage points from a year earlier. In absolute terms, EDP debt stood at EUR 1.663 trillion, up 3.5% year on year. By subsector, State debt reached EUR 1.509 trillion (92.9% of GDP), a 4.4% annual increase, while other central government units recorded EUR 35 billion (2.2% of GDP), down 8.3%. Social security debt was EUR 126 billion (7.8% of GDP), up 8.6%, which the release links to State loans to the General Treasury of Social Security. For territorial administrations, autonomous communities’ debt was EUR 336 billion in April 2025 (20.7% of GDP), up 0.9% year on year, and local government debt was EUR 23 billion (1.4% of GDP), down 1.1%. The consolidation adjustment across general government amounted to EUR 367 billion (22.6% of GDP), up 3.4%; compared with December, total general government debt increased by EUR 43 billion. By instrument, long-term debt securities grew 3.8% year on year, loans with maturity over one year fell 0.3%, and short-term instruments rose 6.6%. The advance EDP debt data for June 2025 is scheduled for publication on 18 August 2025, and the quarterly EDP debt release for the second quarter of 2025 is scheduled for 30 September 2025.
Bank of Spain 2025-07-17
Bank of Spain reports general government debt declined to 102.3% of GDP in May 2025 under the Excessive Deficit Procedure
The Bank of Spain reported that the Spanish general government debt ratio was 102.3% of GDP in May 2025, a decrease of 2 percentage points from the previous year. In absolute terms, debt rose to EUR 1.663 trillion, a 3.5% increase year on year. State debt increased by 4.4% to EUR 1.509 trillion, while social security debt rose by 8.6% to EUR 126 billion, attributed to State loans to the General Treasury of Social Security.