Spain's government debt falls to 100.7 percent of GDP

Spain's general government debt-to-GDP ratio stood at 100.7 percent at the end of 2025, marking its lowest level since 2020.

This figure is one percentage point lower than a year prior.

In absolute terms, the total public debt balance accelerated its growth to 4.8 percent year-on-year, an increase of 1.9 percentage points compared to the same period in the previous year.

The central government's debt reached 92.6 percent of GDP, while autonomous communities recorded 20.2 percent and local corporations 1.2 percent.

Social Security administrations' debt rose to 8.1 percent of GDP, an increase of 7.9 percent year-on-year, primarily due to state loans to finance budgetary imbalances.

Significant disparities persist across Spain's autonomous communities.

Five regions, including Navarra (9.4 percent) and Madrid (11.3 percent), kept their debt-to-GDP ratio below the 13 percent stability threshold.

Conversely, Comunidad Valenciana recorded the highest relative debt at 40.7 percent, followed by Murcia (31.2 percent) and Castilla-La Mancha (28.3 percent).

Local corporations saw a collective 9.3 percent reduction in debt year-on-year.

Among major municipalities, Madrid held the largest debt volume at 1.6 million euros, while Zaragoza presented the highest debt per inhabitant at 767 euros, highlighting varied fiscal health at the local level.