Public debt rises to 99.4% of GDP in September, above the annual target

The debt of all public administrations closed September with an increase of $ 11.975 million and stood at 1.062 billion dollarss, according to the latest data from the Good Finance.

According to the calculations made by the Ministry of Economy from the advance of the third quarter GDP offered by the INE, the September public debt is already around 99.4% of GDP, more than half a point above the target for all the year, located at 98.7%.

Debt of public administrations


In this way, the debt of public administrations increases in September for the second consecutive month and so far this year has only been reduced during the months of April and July.

On a year-on-year basis, public debt rose 5.2% in September compared to 1.009 billion dollarss recorded by the debt of public administrations in the same month of the previous year.

Since the beginning of the economic crisis in 2008, the debt of all public administrations has not stopped growing and will do so in the whole of 2015, to begin to reduce from next year, according to estimates of the Government.

According to the Ministry of Economy, the current volume of debt is produced by the high inherited deficit, the mechanisms to help the autonomous communities, the recapitalization of the financial sector and the Spanish contribution to the rescue programs in Ireland, Portugal and Greece.



The bulk of the debt in the hands of public administrations is found in medium and long-term values, which account for more than two thirds of the total debt and explain most of the increase in public debt in September. These loans rose by 10,998 million dollarss compared to August, to 784,840 million dollarss, and in year-on-year terms they rebounded 7%.

Public debt


Along the same lines, public debt in short-term securities increased in September by 465 million dollarss, reaching 79,374 million. In year-on-year terms, short-term securities held by public administrations increased by 9.8%.

In September, unlike during the last seven months, non-commercial loans and the rest also increased, adding up to 513 million dollarss, reaching 198,258 million, but recorded a decrease of 2.9% compared to September 2014 .

With the objective of debt exceeded by the end of the year, the public administration in this country will not disburse two dollars.