The Spanish public debt climbed in June to 1.568 trillion euros, a new maximum that in any case maintains it at similar figures with respect to GDP, at 113.1%. The data represents an increase of 6.4% year-on-year and 1.7% in the monthly rate, with some 27,000 million more in the month, according to what was announced this Thursday by the Bank of Spain.
The growth of the debt in June is mainly due to the increase in the indebtedness of the State and to a lesser extent of the autonomous communities and town halls. Also influenced by a context of increased spending due to the measures adopted in response to the impact of the war in Ukraine, the rise in prices and the pandemic crisis, it is exposed.
The central administration increased its public debt by 7.9% compared to June last year and 1.9% compared to the previous month, reaching 1.396 billion euros.
The debt of the autonomous communities rose 3.3% year-on-year to 327,248 million euros and that of local corporations 4.3% to 23,790 million.
On the other hand, the debt of the Social Security administrations stood at 106,174 million euros, 7% more than in June 2022. The Bank of Spain explains that it is due to the loans granted by the State to the General Treasury from Social Security to finance its budgetary imbalance.
