The coronavirus crisis has triggered the indebtedness of the Public Administration. Just since last February, the public debt has risen by more than 88,000 million euros in line with the public spending programs launched by the central, regional and local governments to face the impact of the pandemic.

The figure represents an increase of 7.3% in just four months and is even higher than the increase registered since June 2019. In other words, the coronavirus has broken the trend of deleveraging and stabilization registered during the second half of last year, according to the figures published by the Bank of Spain.

The agency does not offer a comparison with the behavior of GDP, which is really how the level of indebtedness of a country is measured. If the closing figure for 2019 were used, the debt would already be at levels close to 103% of GDP, that is, it already exceeds everything that Spain is capable of producing in one year.

However, this indicator will rise much more when the fall recorded by the economy at the end of the year is known. The Bank of Spain itself estimates that this record could range between 115% and 120% of GDP at the end of the year depending on the final impact of the crisis.

All public administrations register an increase in their debts compared to February. The largest increase was recorded again by Social Security, which remains at a historical record with a total liability of 68,855 million euros after growing 41% in one year.

According to the criteria of The Trust Project

Know more

  • GDP
  • Macroeconomy

Crisis Andalusia will not recover its economic level prior to the pandemic until 2022, according to Unicaja

Covid crisisGermany loses 10.1% of its GDP, the biggest drop since there are records

EmploymentCOVID-19: The greatest natural catastrophe leaves the labor market at a minimum pending the Government's economic recovery plan

See links of interest

  • Last News
  • Programming
  • English translator
  • Work calendar
  • Daily horoscope
  • Santander League Standings
  • League schedule
  • Movies TV
  • 2019 cut notes
  • Topics
  • Internazionale - Shakhtar Donetsk