Public debt sets new record with 1.21 billion in the second quarter - La Provincia

Thedebt of all public administrationsIt reached 1,210,915 million euros in the second quarter of the year, marking a new all-time high by rising at 10,470 million euros (+ 0.9%) compared to the previous quarter, which stood at99% of GDP, according to data published Monday by the Bank of Spain.

Specifically, using the nominal GDP of the last four quarters, thedebt to GDP ratio stood at 99%in the second quarter of the year, in line with the previous quarter, but four tenths above the same period last year (98.6% of GDP), in addition to being away from the goal set by the Government for this year, 95 , 8% of GDP.

In absolute terms,public debt reached its highest annual level in history,with 1.21 billion euros, over the year 2018 (1.173 billion euros), 2017 (1.145 billion euros), 2016 (1.104 billion euros) and 2015 (1.07 billion euros). In fact, the debt balance rose 3.8% in year-on-year terms and 0.9% in quarterly terms.

Upload in all administrations

By administrations, the debt increased at the interannual level both in the State and in the autonomous communities, local corporations and theSocial Security.

Specifically, the debt of theCentral State AdministrationIt rose to 1,075,480 million euros in the second quarter, representing a year-on-year increase of 3.9% and 0.5% quarterly. The figure represents 88.8% of GDP, the historical maximum reached by the State.

On the other hand, indebtedness of the autonomous communities grew to 300,587 million euros, 24.6 of GDP, with an increase of 2.5% year-on-year and 1.2% quarterly.

Conversely,the debt of local corporations stood at 26,233 million euros, which is 10.7% less than a year ago but 1% more than the previous quarter, representing the city council debt 2.1% of GDP.

On the other hand, the debt balance of the Social Security administrations also marked a new all-time high, reaching 48,693 million euros, 39.6% more year-on-year for loans and an increase of 18.2% quarterly . In terms of GDP, it also sets a record by exceeding 4% of GDP.

Communities continue to raise their debt

Within the autonomous communities,Catalonia (79,243 million euros), Valencian Community (47,894 million),Andalusia (36,356 million) and Madrid (34,584 million) continue to concentrate two thirds of all debt in the hands of the autonomous governments in the first quarter, with increases in all cases, except in the Community of Madrid, which fell.

Below are the communities of Castilla-La Mancha (14,998 million), Castilla y León (12,708 million), Galicia (11,685 million), the Basque Country (10,752 million), Murcia (9,699 million) and the Balearic Islands (9,364 million).

They close the tableAragon (8,467 million), Canary Islands (6,623 million),Asturias (4,873 million), Extremadura (4,970 million), Navarra (3,475 million), Cantabria (3,179 million) and La Rioja (1,717 million).

As a percentage of GDP, the Valencian Community, with a debt of 42.2%, continues to lead the most indebted regions in relation to its wealth, followed by Castilla-La Mancha, with 35.3%, and Catalonia with 33.9%

On the other hand, the Basque Country (14.3%), the Community of Madrid (14.9% of GDP) and the Canary Islands (14.2%) have the lowest debt with respect to GDP.

Madrid and Barcelona continue to reduce their debt

By size of municipalities, those of more than 500,000 inhabitants accumulated adebt of 5,405 million euros,while those with more than 300,000 and less than 500,000 kept it at 794 million, while the rest of capital remained at 2,590 million.

Among those with more than 300,000 inhabitants, Madrid, with a debt of 2,689 million euros, remains at the head of the most indebted local corporations, followed by Zaragoza (830 million) and Barcelona (800 million). However, all three have reduced their indebtedness compared to last year and the previous quarter.

. (tagsToTranslate) debt (t) publishes (t) brand (t) new (t) record (t) billions (t) second (t) quarter (t) Economy (t) news (t) news (t) news from today (t) the province (t) daily of las palmas (t) canarias (t) daily las palmas (t) daily.

Source link