The debt of all the public administrations rose in the first quarter to historical maximum of 1,453,853 million eurosbut moderated to 117.7% of GDP, according to data from the Bank of Spain published this Tuesday.
In the last year the public debt has increased by 60,780 million euros, which represents a rise of 4.3%, although its weight in GDP has fallen from 125.2% in the first quarter of 2021, an all-time high, to 117.7% between January and March of this year.
The data marked in the first quarter (117.7% of GDP) exceeds, however, the Government’s objective for the whole year (115.2%), in accordance with what is established by the Executive in the Stability Plan sent to Brussels at the end of April.
The scenario proposed by the 2022-2025 Stability Program shows a progressive decrease in the deficit over the four years until the debt/GDP ratio stands at 109.7% in 2025.
Regarding the end of the year, the debt has increased by 26,618 million euros, which represents a rise of almost 2%, in a context marked by the crisis in Ukraine and the rise in prices. However, the weight in GDP has followed the downward path and has fallen from 118.4% to 117.7%.
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