June 23, 2021

The public debt reaches its historic maximum, after rising 5,000 million in January to 1,176 billion

The public debt reaches its historic maximum, after rising 5,000 million in January to 1,176 billion


MadridUpdated:

The debt of all public administrations it has increased by 4,895 million euros in January, up to 1.176 trillion, which has been placed in the environment of 97.4% of GDP, according to data published this Friday by the Bank of Spain. In absolute terms, the public debt has reached in the first month of the year its highest historical level, surpassing the record recorded in September last year (1,175 billion euros).

Specific, public debt has increased by 0.4% in January compared to the previous month, and rebounded 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 has debuted in the year 2019 in the environment of 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.

The state at maximum

The State debt it would be practically behind the increase of the public debt in January, since it has marked a historical maximum, when rising to monthly level in 849 million, until the 1.034 trillions of euros, with an interannual increase of 3.8%, when adding 38.211 million of euros in one year.

On the other hand, the public debt of the autonomous communities has fallen by 492 million compared 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 has lowered its debt by 0.85% in January on a monthly basis, 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 its side, the debt of the administrations of the Social Security it has practically not changed in January, only one million euros down on a monthly basis, although at the inter-annual level it represents a 50.5% increase, with 13,830 million euros more.

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