The debt of the whole of the public administrations increased in 2018 by 26,536 million euros, up to 1,170 billion, which closed the year at 97% of GDP, one tenth more than the objective set by the Government, according to the data published this Friday by the Bank of Spain.
Specifically, public debt increased 2.3% in December compared to the same month last year, and rebounded 0.14% compared to November, rising by 1,737 million euros over the previous month.
In this way, the public debt ratio closed 2018 at 97% of GDP, one tenth more than the Government's estimate in the Budgets, which stood at 96.9% of GDP. For this year, the target was set at 95.4% of GDP.
In absolute terms, the public debt reached its highest annual level in history, with 1,170 trillion euros, above the year 2017 (1,144 trillion euros), 2016 (1,107 trillion euros) and 2015 (1,073 trillion euros) .
UP OF THE STATE, CCAA AND 50% OF THE SOCIAL SECURITY
By administrations, State debt fundamentally explains the increase in public debt last year, since it rose 3.7% year-on-year, with 36,913 million euros more, up to 1,033 billion euros, after growing at a monthly level of 0.36%.
Likewise, the autonomous communities raised their debt to a lesser extent in a year-on-year rate to 292,566 million euros, which is 1.5% more, increasing by 4,459 million euros. However, compared to November it fell by 259 million euros.
On the other hand, local corporations reduced their debt by 10.5% in 2018, to 26,010 million, 3,067 million euros less, and in the last month they reduced their debt by 380 million euros.
The biggest increase was registered in the debt of the Social Security administrations, which rebounded last year at 13,801 million euros, up to 41,194 million euros, representing an increase of 50.3% in the interannual rate. On a monthly basis, the Social Security indebtedness in December practically did not change, only rising by one million euros.
By instruments, most of the State's debt in fiscal year 2018 was concentrated for a year in long-term securities, with 947,014 million euros, 80.9% of the total and 5.8% more than in December. 2018. Of the rest, 66,394 million were recorded in short-term securities, 12.2% less year-on-year, with which the total debt securities stood at more than 1.01 billion euros, 4.4% more .
Finally, long-term loans were reduced by 8.2% in 2018, to 147,375 million euros, while short-term loans fell to 5,472 million euros, 38% less. Total, the loans reached 152,847 million euros, 9.8% less.