This debt of all public administrations 1 percent increase in March Compared to February, until historical maximum 1.535 billion euros, with those in 113% of GDPAccording to data released this Wednesday by the Bank of Spain, which takes the nominal GDP of the last four quarters.
Public debt increased by 5.6 percent last yearAnother 81,540 million euros, as a result of low income and higher expenses, first from the pandemic crisis and later from the economic consequences of the war in Ukraine and the rise in prices.
Despite this absolute increase in public debt, Spain managed to reduce its weight on GDP from 113.2% at the end of 2022 to 113% in the first quarter of 2023, according to progress published by the driving agency. Pablo Hernandez de Cos.
The monthly increase in debt in March was mainly due to the increase in the debt of the State and autonomous communities.SSI indebtedness and town hallsalbeit to a lesser extent.
Specifically, Government debt stood at €1.363 trillion in March, representing an increase of 1.08% and a further €14,589 million in just one month, up 7% over the past twelve months.
On the other hand, in the third month of the year the autonomous communities They increased their debt to 322,271 million Euros from February, another 4,761 million Euros (1.5%)year-on-year increase of 4%.
Municipalities recorded a debt of 23,066 million euros in March, which is 0.7% more Compared to the previous month, it recovered by 2.7% last year.
Finally, Social Security indebtedness remained flat at 106,172m euros in MarchIt has rebounded by 7%, only three million more than in February, but remained at its maximum in the last 12 months.
The Bank of Spain explains that the increase in Social Security indebtedness last year was due to loans the state made to the General Treasury of the organization to finance the budget imbalance.