• Monetary Fund The IMF fears for the sustainability of pensions and calls on Spain to reduce public debt

  • Monetary Fund The Government ignores the IMF and entrusts the reduction of public debt to the increase in tax revenue

Spain's public debt continues to accumulate figures as historically high as they are worrying.

According to data published by the Bank of Spain this Thursday, liabilities soared by

more than 81,000 million euros

during the past year, closing 2021 with a

new maximum of 1,428 million

.

The figures are so high that it is difficult to even put them into context, but a comparison with the Spanish economy as a whole can give an idea: if expressed in terms of Gross Domestic Product (GDP),

the year-end figure was 118.7%

.

"With the advance data available, the balance of the Public Administration debt reached 1,428 million euros in December 2021,

with a growth rate of 6.1% in year-on-year terms

," explains the Bank of Spain.

This growth continues a trend that has become the norm since 2007, but which has become especially acute as a result of the coronavirus.

The crisis derived from the pandemic forced the States to increase their efforts in terms of indebtedness, which in the case of Spain has translated into

an increase in liabilities that now exceeds 220,000 million

.

The fact that the countries increased their debt was even endorsed by the European authorities, but the problem for Spain is that the accumulated liabilities were already very high.

And the crisis has ended up taking the figures to very high levels.

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International Monetary FundThe Government ignores the IMF and entrusts the reduction of public debt to the increase in tax revenue

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