In the last 12 months, public debt has risen by 5.6% (€81,035 million) due to higher expenditure resulting first from the pandemic crisis and, subsequently, from the economic consequences of the war in Ukraine and the rise in prices. Despite this rise in public debt in absolute terms, Spain has managed to moderate slightly the relative weight of its debt to GDP (debt/GDP ratio) from 113.2% at the end of 2022 to 112% in April.
In April, the stock of government debt amounted to €1.356 trillion, an increase of 7.3% year-on-year, while for the other central government units the stock was €42,000, a decrease of 11.3% year-on-year. The debt stock of social security funds stood at €106 billion, up 7% year-on-year.
The debt of the autonomous communities grew to €322 billion in April (+3.5% year-on-year), while local government debt stood at €23 billion (+4.2%). On the other hand, consolidation in the general government sector as a whole, i.e. the debt held by the various sub-sectors that make up the general government sector, increased by 8.2% year-on-year to €323 billion.