In April, the public sector across all levels registered its first monthly decline in debt for the year, marking a slight drop overall. Total public debt stood at 1,445,426 million euros, down by 8,522 million from March, which had seen 1,453,853 million. These figures come from new data released by the Bank of Spain on the Friday in question, providing the latest snapshot of the national debt trajectory and its composition since April 2021.
The bulk of the decrease appeared within the central government, which still carried the largest share of obligations at 1,264,291 million euros, although this represented a reduction of 10,041 million compared with March when the debt stood at 1,274,332 million. This shift reflects a monthly tightening in the State’s borrowing position during April, contributing significantly to the overall national debt movement.
Autonomous communities ended April with a debt accumulation totaling 310,655 million euros, an increase of 914 million from March. This uptick suggests financing needs or timing effects within regional administrations that month, even as the broader debt profile for the public sector experienced a marginal retreat.
Local corporations logged indebtedness of 22,455 million euros, a slight decrease of 9 million from March. Social Security, meanwhile, saw its liabilities slip by 2 million, closing April at 99,185 million. These shifts, though modest, are part of the broader pattern of debt management across government layers, reflecting how each segment adjusts its funding operations over the monthly cycle.
By the end of April, the majority of public debt remained in the form of representative securities, totaling 1,250,070 million euros. The remainder consisted of loans, which reached 190,333 million, and cash and deposits, amounting to 5,023 million. The security component continues to be the dominant mechanism for funding the state and other public entities, underscoring the importance of government-issued instruments in managing liquidity and financing needs.
Overall, the April data illuminate how debt levels respond to a combination of policy decisions, market conditions, and the timing of regional financing operations. While the State’s debt liability decreased, regional and local authorities demonstrated mixed movements, with autonomous communities increasing their borrowings and local entities reducing theirs slightly. These dynamics contribute to the evolving mosaic of Spain’s public debt, shaping the path for upcoming months as authorities evaluate repayment plans, refinancing risks, and the potential impact of interest rate changes on the debt portfolio. The Bank of Spain continues to monitor these trends closely, offering ongoing analysis that helps policymakers, investors, and the public understand the evolving fiscal landscape (Bank of Spain data release).