Public debt rises and reaches historic high of ₹1,453 billion

Public administration debt registers an overall growth of 0.85% in March as compared to February historical maximum 1,453 billion euros, which accounts for 117.7% of GDP, according to data advanced this Tuesday by the Bank of Spain.

In the last year, the public debt has increased by 4.4%, with an increase of 60,875 million euros, resulting in Low income and the high spending derived from the pandemic crisis and more recently from the war in Ukraine.

state debt

The monthly increase in debt in March is almost exclusively due to an increase in state indebtedness, as communities, municipalities and social Security It has remained more or less stable in the third month of the year.

Conversely, indebted to social Security It remained stable in March, with 99,187 million euros, only a million more than in March, but has risen 16.2% over the past 12 months, with which it remains the highest.

The Bank of Spain states that the increase in Social Security indebtedness in the past year is due to state-provided loans treasure The body’s general insisted on funding its budget imbalances, as a result of the COVID-19 crisis.

For their part, autonomous communities in the third month of the year have slightly increased their debt compared to the month of februaryTo EUR 309,811 million, barely EUR 8 million more, although it experienced a rebound of 0.7% in the inter-annual rate.

The Town Hall, on their behalf, is registered a Loan 22,471 million euros in March, an increase of 1.2% over the previous month, compared to an increase of 1.6% in the previous year.