The Bank of Spain published preliminary monthly data showing that Spanish general government debt under the Excessive Deficit Procedure (EDP) stood at EUR 1,630bn in January 2025, a 2.8% increase from a year earlier. By subsector, state debt was EUR 1,482bn (+4% year on year), while other central government units recorded EUR 36bn (−9%). Social security debt reached EUR 126bn (+8.6%), with the increase attributed to state loans to the General Treasury of the Social Security to finance its budget imbalance. Regional governments’ debt amounted to EUR 335bn (+3.4%), and local governments’ debt totalled EUR 22bn (−4%). Intra-general-government holdings (consolidation) rose to EUR 373bn (+8.4%). The Bank noted the monthly EDP debt data are based on advance information and may be revised, including due to possible reclassifications. The advance release for February 2025 EDP debt is scheduled for 22 April 2025, and the quarterly EDP debt data for the fourth quarter of 2024 is due on 31 March 2025.
Bank of Spain 2025-03-17
Bank of Spain reports Spanish general government debt at EUR 1,630bn in January 2025 up 2.8% year on year
The Bank of Spain reported that Spanish general government debt under the Excessive Deficit Procedure reached EUR 1,630bn in January 2025, marking a 2.8% increase year-on-year. State debt rose to EUR 1,482bn (+4%), while social security debt increased to EUR 126bn (+8.6%) due to state loans. Regional and local government debts were EUR 335bn (+3.4%) and EUR 22bn (−4%), respectively, with intra-general-government holdings at EUR 373bn (+8.4%).