June 21, 2021

Public debt soars almost 5,000 million in January – The Province

Public debt soars almost 5,000 million in January - The Province

The debt of all public administrations increased by 4,895 million euros in January, up to 1,175,856 million euros, which stood at around 97.4% of GDP, according to data published this Friday by theBank of Spain.

In particular, thepublic debtincreased by 0.4% in January compared to the previous month, andrebounded by 2.6% compared to the same month last year, rising by 30,019 million euros in one year.

In this way, the public debt ratio began the year 2019 in thearound 97.4% of GDP, about four tenths more than the percentage with which it closed 2018 (97%) and two points above the target set for this year, of 95.4% of GDP.

In absolute terms, public debt accumulatesthree consecutive months of incrementsand reaches its highest historical level in the first month of the year, surpassing the record recorded in September last year (1,175,704 million euros).

Baja in CCAA and municipalities

By government, the state debt mainly explains the increase in public debt in January, which marked a historic maximum, sincerose to a monthly level of 849 million, up to 1,034 billion euros, with a year-on-year increase of 3.8%, adding 38,211 million euros in one year.

Likewise,the public debt of the autonomous communities fell 492 million with respect to December 2018, up to 292,074 million euros, although if compared to the year-on-year level an increase of 1.6% is observed.

On the other hand,local corporations reduced their debt by 0.85% in Januaryat monthly level, up to 25,789 million, 221 million euros less, and in the last year they cut their debt by 3,270 million, down 11.2%.

On the other hand, the debt of the Social Security administrations practically did not change in January, only one million euros down on a monthly basis, although at the inter-annual level it constitutes a rise of 50.5%, with 13,830 million euros plus.

Long-term values

By instruments, most of the debt in the month of Januaryconcentrated once again on long-term values, with 950,600 million euros, 80.8% of the total and 6.1% more than in December 2018.

The rest,65,849 million were recorded in short-term securities, 11.1% less year-on-year, with which the total debt securities stood at more than 1.01 billion euros, 4.8% more.

Finally, long-term loans decreased by 8% year-on-year in January to 148,402 million euros, while short-term loans decreased by 38.3% to 6,290 million euros. In total, the loans reached 154,692 million euros, 9.8% less.


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