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Public debt is reduced to 98.7% of GDP in the third quarter

Madrid City Council reduces its debt by 9.2% during the first nine months of the year

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Public debt is reduced to 98.7% of GDP in the third quarter

The public debt of whole of Spanish public administrations represents 98.7% of GDP, which implies a decrease of 1.1 percentage point compared to previous quarter. The sustained growth of Spanish economy and process of fiscal consolidation are contributing to gradual sanitation of central Administration, autonomous Communities and municipalities.

More information
  • Paradox of financial responsibility
  • The public debt in Spain marks a new record: 1.139 trillion euros
  • Public debt rises in 2.86 billion in September and stands at 98.3% of GDP
  • All communities less Galicia increase ir public debt until June
  • Spanish public debt fell by 2016 to 98.98% of GDP

The volume of public debt, however, remains in historical maxima. Public indebtedness exceeds trillions of euros. In particular, it stood at 1,136,171 million euros and cares for highest level in more than a century.

The liabilities of communities were also reduced between June and September. Four-tenths to 24.7% of GDP were reduced, representing an amount equivalent to 284,407,000,000 euros.

Municipalities also maintain a debt-reduction path. In third quarter y have reduced volume of financial commitments by 1.8% to 7.791 billion. The city Council of Madrid accumulates almost half of municipal indebtedness: at end of September it owed 3.511 billion despite overwhelming process of debt that it has experienced in recent years.

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