The debt of all public administrations increased by 11,652 million euros in March, to reach 1.2 trillion euros, which stood at around 98.7% of GDP, according to data published this Friday by the Bank of Spain. In particular, public debt increased by 1% in March compared to the previous month, reaching 1,199 billion euros, and rebounded by 3.3% compared to the same month last year, rising by 38,064 million euros in the last year.
In this way, according to the calculation made based on the quarterly National Accounts published by the INE and in the nominal growth forecast of 3.8% contained in the bill of the General State Budgets 2019 , which is habitually used by the Ministry of Economy, the public debt ratio stood at the third month of 2019 in the vicinity of 98.7% of GDP.
This percentage is more than a point and a half above the percentage with which it closed 2018 (97%) and more than 2.5 percentage points higher than the target set for this year, of 96% of GDP.
In absolute terms, public debt reaches its highest historical level in March, exceeding very much the record recorded in September last year (1,175 billion euros).
By administrations, the State debt mainly explains the increase in public debt in March, which marked a historic maximum, since it rose to a monthly level of 11,963 million, to 1,058 billion euros. Compared to the previous year, it increased by 4.3%, adding 43.763 million euros in one year.
Likewise, the public debt of the autonomous communities also rose in February, with a rise of 2,725 million euros, to 296,009 million euros. On the other hand, at the year-on-year level, it fell by 2.1%.
Local corporations also increased their debt by 13 million in March on a monthly basis, to 26,143 million, but in the last year they cut their debt by 2,850 million, 9.8% less.
On the other hand, the debt of the Social Security administrations rose by 4.5% in March and stood at 43,068 million euros, while at the inter-annual level it registered a rise of 57.4%, with 15,705 million euros. euros more. . (tagsToTranslate) debt (t) publishes (t) March