The Bank of Spain published its monthly advance data on public administrations debt under the Excessive Deficit Procedure, showing the debt ratio at 101.5% of GDP in November 2025, 0.8 percentage points lower than a year earlier. In nominal terms, debt stood at EUR 1.698 trillion, up 4.7% year on year, with the Bank noting that monthly figures are based on advance information and may be revised. By subsector, State debt totalled EUR 1,549 billion (92.5% of GDP) and rose 5% year on year, while autonomous communities’ debt was EUR 339 billion (20.3% of GDP), up 1.3%, and local government debt was EUR 22 billion (1.3% of GDP), down 3.7%. Other central government units recorded EUR 34 billion (2.1% of GDP), down 8.2%, and social security administrations EUR 136 billion (8.1% of GDP), up 7.9% attributed to State loans to finance budget imbalance. Consolidation within the public sector amounted to EUR 382 billion (22.8% of GDP), up 2.3% year on year; compared with December of the prior year, total debt increased by EUR 77.7 billion, mainly driven by the State (+EUR 75.3 billion) and regions (+EUR 3.2 billion). Long-term securities rose 4.2% year on year, loans with maturity over one year rose 8.5%, and short-term instruments increased 5.7%. The advance monthly data for December 2025 are scheduled for publication on 17 February 2026, and the fourth-quarter 2025 quarterly data on 31 March 2026.
Bank of Spain 2026-01-16
Bank of Spain reports public administrations debt at 101.5% of GDP in November 2025, down 0.8 percentage points year on year
The Bank of Spain reported that public administrations' debt under the Excessive Deficit Procedure was 101.5% of GDP in November 2025, a decrease of 0.8 percentage points from the previous year. In nominal terms, debt reached EUR 1.698 trillion, a 4.7% increase year on year. State debt rose 5% to EUR 1,549 billion, while autonomous communities' debt increased 1.3% to EUR 339 billion, and local government debt decreased 3.7% to EUR 22 billion.