Link Securities | The Bank of Spain (BdE) published on Monday that the debt of the Public Administrations as a whole increased by 1.5% in June compared to May, an increase equivalent to €24,769 million, to €1.624 billion, which is a new all-time record. According to the BdE, using nominal GDP for the last four quarters, the debt-to-GDP ratio stood at 108.2% at the end of 1H2024.
According to the BdE, the balance of government debt rose to €1.468 trillion in June, a year-on-year increase of 5.1%, while for the Other Central Government Units the balance was €39 billion, a decrease of 8.3% compared to the same month of the previous year.
The debt stock of the Social Security Funds stood at €116 billion, 9.4% higher than a year earlier.
With regard to territorial governments, the debt of the Autonomous Communities grew to €338 billion in June 2024, with a year-on-year change of 3.2%, while the debt of Local Corporations stood at €24 billion in this month, 0.7% less than the balance recorded in June 2023.
Over the last 12 months, general government debt has increased by €56.239 billion, an increase of 3.6%.
