The Valencian Community closes the second quarter as the most indebted autonomous community in Spain, with €64.593 billion, which is 40% of its regional GDP. The total debt of all administrations reaches €1.762.936 billion, although it decreases to 101.4% of GDP.
The Valencian Community has closed the second quarter of the year as the most indebted autonomous community in Spain, with €64.593 billion, a figure that represents 40% of its regional GDP, according to data published by the Bank of Spain, as reported by actualidadvalencia.com. This ratio doubles the regional average, which stands at 20.4%.
The ranking of regional debt is completed by Murcia, with 30% of GDP, and Catalonia and Castilla-La Mancha, both with 28.1%. At the opposite end, Navarra records the lowest ratio, with 8.4%, followed by Canary Islands (10.9%), Basque Country (11.7%), Madrid (12.3%) and Asturias (12.5%).
In nominal terms, Catalonia accumulates the highest regional debt, with €92.770 billion. It is followed by the Valencian Community, with €64.593 billion; Community of Madrid, with €42.296 billion; and Andalusia, with €42.070 billion.
The total of the autonomous communities has reduced its debt to 20.4% of GDP, five tenths less than a year earlier. However, the total volume has reached a new historical maximum, with €355.241 billion, an increase of 3.8% year-on-year.
The debt of all public administrations has also reached record figures in euros. Between April and June, the combined debt has risen to €1.762.936 billion, 4.3% more than in the same period of the previous year, although its weight on the economy has decreased to 101.4% of GDP, 1.8 points less.
The Bank of Spain has already provided the data for July, when the debt of public administrations fell to 99.9% of GDP. This is the first time it has dropped below the 100% threshold since February 2020.
By subsectors, the central administration concentrates the largest part of public debt, with €1.613.352 billion between April and June, an increase of 4.2% year-on-year, although its weight on GDP has decreased by six tenths, to 92.8%. Local corporations have reduced their debt by 8.3%, down to €21.394 billion, 1.2% of GDP. The Social Security has followed the opposite trend: its debt has reached €136.178 billion, an increase of 7.9%, representing 7.8% of GDP.
Among the thirteen Spanish municipalities with more than 300,000 inhabitants, the combined debt has decreased by 18.9% compared to the previous year, down to €4.451 billion. Madrid remains the most indebted municipality, with €1.511 billion, followed by Barcelona (€1.231 billion), Zaragoza (€502 million) and Murcia (€254 million). On the opposite side, the City Council of Las Palmas records no debt; Bilbao has €48 million; Valencia, €61 million; and Alicante, €70 million.
Five communities maintain their debt ratio below 13% of GDP, the reference value set by the Stability Law: Navarra, Canary Islands, Basque Country, Madrid and Asturias.
You may also like
