In the last year it grew by more than 93,000 million and already exceeds 1.56 trillion euros
The debt of the public administrations as a whole reached 1.568 trillion euros in June, a new all-time high, after growing more than 1.7% in the monthly rate, according to data published this Thursday by the Bank of Spain.
In the last year, public debt has grown by 6.4%, with 93,763 million euros more, as a result of lower income and higher expenses derived from the pandemic crisis and the war in Ukraine and the rise in prices.
With this figure, the debt stands at 113.1% of GDP at the end of the second quarter of the year, taking the nominal GDP of the last four quarters, according to the calculations made by the Bank of Spain.
The monthly rise in debt in June is mainly due to the increase in State indebtedness and, to a lesser extent, that of the autonomous communities and town halls. On its side, the Social Security debt has remained more or less stable in the sixth month of the year.
Specifically, in June the State debt stood at 1.396 trillion euros, also a historical record, which represents an increase of 1.9% and 25,654 million euros more in just one month, while in the last twelve months has increased by 7.9%.
RISES THE DEBT OF CC.AA. AND MUNICIPALITIES
In the sixth month of the year, the autonomous communities have also increased their debt compared to the month of May, up to 327,248 million euros, some 1,646 million euros more (0.5%), and in the interannual rate it experiences a rebound of 3. 3%.
On its side, Social Security indebtedness has remained stable in June, with 106,174 million euros, only five million more than in May, but in the last 12 months it has risen by 7%, thus remaining at maximums. .
The Bank of Spain explains that the increase in Social Security indebtedness in the last year is due to the loans granted by the State to the General Treasury of the organization to finance its budgetary imbalance.
Finally, the city councils have registered a debt in June of 23,790 million euros, 0.7% more than the previous month, while in the last year it has rebounded by 4.3%.
