The Bank of Spain published its monthly advance on General Government debt under the Excessive Deficit Procedure (EDP), showing the debt ratio at 102.3% of GDP in July 2025, 1.9 percentage points lower than a year earlier. In nominal terms, EDP debt totalled EUR 1.680 trillion, up 3.9% year on year. By subsector, State debt reached EUR 1.525 trillion (92.9% of GDP), rising 4.1% year on year, while debt of autonomous communities increased 1.6% to EUR 340bn (20.7% of GDP) and local government debt fell 1.6% to EUR 23bn (1.4% of GDP). Social Security debt rose 8.6% to EUR 126bn (7.7% of GDP), attributed to State loans to finance its budget imbalance, and other central government units’ debt declined 8.5% to EUR 35bn (2.1% of GDP). Consolidation within general government amounted to EUR 369bn (22.5% of GDP), up 2.3% year on year; compared with December of the previous year, total debt increased by EUR 59.7bn. By instrument, long-term securities and loans with maturity over one year grew 4.5% and 1.1% year on year respectively, while short-term instruments declined 0.8%. The Bank of Spain indicated that the August 2025 monthly EDP debt advance will be published on 21 October 2025, and the EDP debt data for the second quarter of 2025 will be published on 30 September 2025.
Bank of Spain 2025-09-17
Bank of Spain reports July 2025 public sector debt at 102.3% of GDP with ratio down 1.9 percentage points year on year
The Bank of Spain reported that General Government debt under the Excessive Deficit Procedure was 102.3% of GDP in July 2025, a decrease of 1.9 percentage points from the previous year. In nominal terms, debt rose 3.9% year on year to EUR 1.680 trillion. State debt increased by 4.1% to EUR 1.525 trillion, while Social Security debt rose 8.6% to EUR 126 billion due to State loans for budget imbalances.