Bank of Spain
Facade of the Bank of SpainPablo Monge

The public administrations as a whole managed to reduce their indebtedness in April by a total of 8,839 million euros, to stand at 1,526 trillion, which is 0.5% less than last March, according to data published by the Bank of Spain. Even so, the figure is 5.6% higher than the data obtained a year ago, when the debt stood at 1.445 trillion.

The State is the one that has increased its debt the most, with a rise of 7.3% year-on-year to 1.356 billion euros, followed by the Social Security administration, which does so by 7% to 106,170 million. If we compare the data for April with March, the State has managed to reduce its deficit by 0.5%, and Social Security by only 0.1%.

The debt of the Autonomous Communities, on the other hand, grew to 321,513 million in April 2023, or what is its equivalent, 3.5% more year-on-year, while compared to March it has decreased by 0.22%.

The local corporations -the town halls- are the only ones that have increased their debt in April compared to March, with 371 million more in public spending, but they also registered a rise of 4.2% compared to April of the previous year, reaching 23,403 million euros.

With these data, Spain has managed to reduce the debt to GDP ratio to 112% in the first four months of 2023, while at the end of 2022 the debt represented 113.2% of GDP.

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By Nail

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