MADRID / TOLEDO, Dec 14 (EUROPA PRESS) –
Castilla-La Mancha’s debt reached 15,607 million euros in the third quarter of the year, which is 45 million less than in the previous quarter, when the debt was estimated at 15,652 million euros. This represents 38.7% of GDP.
At the national level, the debt of the public administrations as a whole rose in the third quarter to the historical maximum of 1,432 trillion euros, standing at 122.1% of GDP, so it increased in relative terms by 0.5% compared to to the previous quarter, according to the data published this Tuesday by the Bank of Spain.
In the interannual rate, it increased 9.5% compared to the same quarter of last year, with 124,024 million more, as a result of the Covid-19 crisis, which has raised expenses to finance the approved support measures.
Of course, the debt has been moderating its weight in GDP throughout this year. Specifically, the ratio of public debt to GDP stood at 122.1% in the third quarter, which is seven tenths less compared to the second quarter (122.8%) and 3.2 percentage points below the ratio of the first quarter (125.3%), when it reached the highest historical level. At a year-on-year level, the public debt ratio has risen by 8 percentage points.
The Ministry of Economic Affairs assures that, despite this new record and having exceeded 122% of GDP, public debt will close the year at 119.5% of GDP, the official objective of the Executive.
Thus, he explains that in the last quarter of the year the rate of public debt issues will be reduced and there will also be two important repayments, one that was made in October for an amount of 20,329 million euros, and an additional one in November for 6,254 million .
LOWER DEBT OF LOCAL CORPORATIONS
By administrations, public debt increased in all between the months of July and September compared to last year, except in local corporations. Thus, the State debt rose in the third quarter to 1,281,369 million euros, 8.8% more than a year ago, which represents 109.3% of GDP, with an increase of 6.6 percentage points compared to the same period last year, but down four tenths compared to the previous quarter.
For its part, the debt of the autonomous communities grew by 3.4% year-on-year, to 312,183 million euros in the third quarter, equivalent to 26.6% of GDP, three tenths more than in 2020. In addition, it increased by 153 million compared to the previous quarter.
On the contrary, local corporations reduced their debt by 5.9% in the third quarter compared to the same period of the previous year, to 22,343 million euros, which represents 1.9% of GDP, below the ratio of last year (2.1% of GDP) and of the previous quarter (2% of GDP).
Finally, the debt of the Social Security administrations climbed to 91,855 million euros between July and September, which is why it remained at its historical record reached in the second quarter, which represents an increase of 22.7% in one year. The ratio to GDP rises to a record 7.8%, as a consequence of the higher expenses it has had to face to protect families and companies.
DEBT BY COMMUNITIES
Catalonia (82,936 million euros), Valencian Community (52,301 million), Andalusia (36,428 million) and the Community of Madrid (34,150 million) continue to concentrate in the third quarter two thirds of all debt in the hands of the autonomous governments, although also It obeys a population question.
Next are the communities of Castilla-La Mancha (15,607 million), Castilla y León (13,100 million), the Basque Country (11,470 million), Murcia (11,284 million), Galicia (11,259 million) and the Balearic Islands (9,378 million).
Aragón (8,966 million), Canarias (6,315 million), Extremadura (5,192 million), Asturias (5,106 million), Navarra (3,613 million), Cantabria (3,426 million) and La Rioja (1,650 million) close the table.
However, in percentage of GDP, the Valencian Community, with an indebtedness that represents 47.8%, continues to lead the regions with the most indebtedness in relation to their wealth, followed by Castilla-La Mancha, with 38.7%, Catalonia, with 37.2% and the Region of Murcia, with 37%.
MADRID MAINTAINS DEBT AND BARCELONA REDUCES
By size of municipalities, those with more than 300,000 inhabitants accumulated a debt of 4,772 million euros until September, 31 million less than in the previous quarter.
Specifically, Madrid, with a debt of 1,710 million euros, remains at the head of the most indebted local corporations, followed by Barcelona, with 829 million, and Zaragoza, with 671 million.
