The debt of the public administrations as a whole reached

1.42 trillion euros

in June

, a

new historical maximum, after growing almost

1.7% in the monthly rate,

which has led to two consecutive months of

growth

, according to the data published this Tuesday by the Bank of Spain.

Using the nominal GDP of the last four quarters, the debt-to-GDP ratio stood at 122.1% in the second quarter of 2021,

above the target established

in the Stability Plan of 119.5% of GDP.

Compared to June last year, public debt has increased by 134,607 million euros, which represents a 10.4% rebound, as a result of the Covid-19 crisis, which has cut income and raised expenditure to finance approved support measures.

According to the criteria of The Trust Project

Know more

  • GDP

  • Coronavirus

  • Crisis

  • Covid 19

  • Taxes

  • economy

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