SANTA CRUZ DE TENERIFE/MADRID, 30 Sep. (EUROPA PRESS) –
The public debt of the Canary Islands stood at 6,455 million euros in the second quarter of the year, which represents 14.6% of GDP, 1.8% less than in the same quarter of the previous year, according to published data this Friday by the Bank of Spain, which includes that in relation to GDP it has also been reduced by 1.7 points.
The debt of the public administrations as a whole rose in the second quarter to the historical maximum of 1,475 billion euros, which represents an increase in relative terms of 1.5% compared to the previous quarter, although its weight on GDP and the ratio stood at 116.1%.
In the interannual rate, it increased by 3.6% compared to the same quarter of last year, with 50,651 million more, as a result of lower income and higher expenses derived from the pandemic crisis and more recently due to the war in Ukraine.
Thus, the ratio of public debt to GDP was 116.1%, which is 1.3 percentage points less than in the first quarter (117.4%), although it still exceeds the Government’s target for the whole year ( 115.2%), in accordance with the provisions of 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.
THE STATE DEBT SETS A HISTORICAL RECORD
By administrations, the public debt increased in all between the months of April and June of this year, except in Social Security. Thus, the State debt rose in the second quarter to 1,326,060 million euros, 4.1% more than a year ago and 1.4% higher than the previous quarter, which represents 104.4% of the GDP.
For its part, the debt of the autonomous communities grew by 1.5% year-on-year, to 316,663 million euros in the second quarter, equivalent to 24.9% of GDP. On his side, it increases by just over 6,920 million compared to the previous quarter.
In the case of local corporations, their debt increased slightly by 0.6% compared to the second quarter of 2021, while it rose by 361 million compared to the first quarter of 2022, placing the ratio over GDP at 1.8 %.
Finally, the debt of the Social Security administrations stood at 99,185 million euros between April and June, registering a slight drop of 2 million compared to the previous quarter, although the year-on-year growth is 8%. The ratio over GDP drops to 7.8%, compared to 7.9% last year and 8% in the first quarter of 2022.
THE VALENCIAN COMMUNITY AND CATALONIA, AMONG THE MOST INDEBTIZED REGION
Within the autonomous communities, Catalonia (84,486 million euros), the Valencian Community (54,260 million), Andalusia (37,419 million) and Madrid (34,563 million) continue to concentrate two thirds of all the debt in the hands of the regional governments in the second quarter , although it is also due to a population issue.
Below are the communities of Castilla-La Mancha (15,519 million), Castilla y León (13,124 million), Galicia (11,824 million), Murcia (11,587 million) and the Basque Country (11,395 million).
Aragón (9,199 million), Balearic Islands (9,135 million), Canary Islands (6,455 million), Extremadura (5,093 million), Asturias (4,246 million), Cantabria (3,282 million), Navarra (3,064 million) and La Rioja (1,647 million) close the table. millions).
However, as a percentage of GDP, the Valencian Community, with a debt of 45.8%, continues to lead the most indebted regions in relation to its wealth, followed by Catalonia, with 35%, Castilla-La Mancha ( 34.6%) and Region of Murcia (34.2%).
MADRID AND BARCELONA THE MOST INDEBTTED MUNICIPALITIES
By size of municipalities, those with more than 300,000 inhabitants accumulated a debt of 4,852 million euros until March, 49 million more than in the same quarter of the previous year.
Specifically, Madrid, with a debt of 1,905 million euros, continues to lead the most indebted local corporations, followed by Barcelona, with 791 million, and Zaragoza, with 638 million.