The Bank of Spain published quarterly statistics on Spain’s general government debt under the Excessive Deficit Procedure, reporting outstanding debt of EUR 1.66 trillion at end-March 2025. On a four-quarter cumulated nominal GDP basis, the debt-to-GDP ratio was 103.5% in 2025 Q1, down 2.8 percentage points from a year earlier, while overall debt increased 3.3% year on year. By sub-sector, central government debt rose 3.9% year on year to EUR 1.53 trillion (95.1% of GDP), regional (autonomous) government debt increased 2.8% to EUR 338 billion (21% of GDP), and local government debt fell 1.3% to EUR 23 billion (1.4% of GDP). Social security funds debt was EUR 126 billion (7.8% of GDP), up 8.6% year on year, which the Bank attributed to State loans under the budgetary extension and noted does not affect total general government debt due to consolidation. By instrument, long-term debt securities grew 3.9% year on year, long-term loans declined 4.6%, and short-term instruments increased 9.3%; 94.7% of EDP debt was long term, including 85.2% in long-term debt securities. The Bank indicated that a preview of the April 2025 monthly EDP debt figures will be published on 20 June 2025, and the 2025 Q2 quarterly EDP debt figures on 30 September 2025.
Bank of Spain 2025-06-13
Bank of Spain reports general government EDP debt at EUR 1.66 trillion with debt ratio down to 103.5% in 2025 Q1
The Bank of Spain reported Spain's general government debt at EUR 1.66 trillion at end-March 2025, with a debt-to-GDP ratio of 103.5%, down 2.8 percentage points from the previous year. Central government debt rose to EUR 1.53 trillion, while regional and local government debts were EUR 338 billion and EUR 23 billion, respectively. Social security funds debt increased to EUR 126 billion, attributed to State loans, with 94.7% of the debt long-term.