Public debt rose by €5.618 billion in August and reaches 99.7% of GDP. Per inhabitant, the increase is €11,892 since Pedro Sánchez arrived at La Moncloa.
Public debt increased by €5.618 billion in August, reaching 99.7% of GDP, according to monthly data from the Bank of Spain. The calculation is reported by labandera.es based on an analysis by economist José María Rotellar.
Per inhabitant, debt has risen by €11,892 since Pedro Sánchez took office at La Moncloa more than seven and a half years ago. The total amount is around €1.75 trillion, with a cumulative increase of €592.248 billion since the beginning of the term.
According to Rotellar's calculations, borrowing has grown at an average rate of about €196.5 million per day, more than €8 million per hour.
The economist notes that the debt-to-GDP ratio may decrease due to nominal economic growth, driven by inflation or statistical revisions. Without the extraordinary revision of GDP carried out by the INE, the ratio would reach 104.3%.
Rotellar places the structural deficit close to 4% of GDP and warns that higher interest rates would increase the cost of debt financing. Interest payments could absorb resources intended for healthcare, education, or infrastructure.
The economist calls for reducing inefficient spending, boosting productive investment, and returning part of the extraordinary revenue through tax cuts and the deflation of personal income tax.
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