Spain's public debt-to-GDP ratio falls to 100.8 percent
Spain's public debt, measured under the Excessive Deficit Procedure, stood at 100.8 percent of GDP in December 2025, a 0.9 percentage point decrease from the previous year. The Banco de España reported a 4.8 percent year-on-year increase in the absolute debt amount to €1,699 billion.
Debt-to-GDP ratio declines
Spain's general government debt, calculated under the Excessive Deficit Procedure (EDP), reached 100.8 percent of Gross Domestic Product in December 2025. This marks a 0.9 percentage point reduction compared to the same period in the previous year.
Despite the decline in the debt-to-GDP ratio, the absolute volume of public debt increased by 4.8 percent year-on-year, totaling €1,699 billion.
The EDP debt concept includes liabilities in cash, deposits, debt securities, and loans, valued at nominal prices, excluding intra-sector liabilities for consolidation purposes.
The Banco de España highlighted that this figure is an advance estimate, subject to revisions as more comprehensive data becomes available.
Varied trends across public sectors
The growth in overall debt was not uniform across all public administration subsectors.
State debt saw a 5.1 percent year-on-year increase, reaching €1,549 billion, equivalent to 91.9 percent of GDP.
Debt for Autonomous Communities grew by 1.8 percent to €342 billion (20.3 percent of GDP), while Local Corporations reduced their debt by 9.1 percent to €21 billion (1.2 percent of GDP).
Social Security administration debt rose by 7.9 percent to €136 billion (8.1 percent of GDP), primarily due to state loans.
Regarding debt instruments, long-term securities and loans both registered positive annual growth rates of 5.1 percent and 7.6 percent, respectively, while short-term instruments decreased by 3.7 percent.