The debt of all public administrations rose to a historical maximum in the second quarter. 1.475 billion euros, Although its weight on GDP is moderate and the rate remains at 116.1%, it represents a relative 1.5% increase compared to the previous quarter, according to data released by the Bank of Spain this Friday.
In the interannual rate, it was 50,651 million, up 3.6% from the same quarter last year as a result of lower revenues and higher expenses resulting from the pandemic crisis and more recently the war in Ukraine.
Thus, the ratio of public debt to GDP became 116.1%, which is 1.3 percentage points lower than the first quarter (117.4%). exceeds government target for full year (115.2%), in line with those determined by the Executive Board in the Stabilization Plan sent to Brussels at the end of April.
The scenario proposed by the 2022-2025 Stabilization Program shows a gradual decrease in the deficit over the course of four years. debt/GDP ratio 109.7% in 2025.