The public debt closes in the objective of 98.1% of GDP

The debt of all public administrations reached 1,144 billion dollars in 2017, after increasing by 5,879 million dollars in December. Therefore, it was at 98.08% of GDP, thus meeting the annual objective of 98.1%. Although it again marked a new historical record, according to the calculations of the Ministry of Economy according to the GDP forecast contained in the last budget plan. On a year-on-year basis, the debt of public administrations compared to December 2016 of the previous year grew by 37,424 million dollars. 3.4% more, according to date published this Friday by the Money Make Bank.

As a percentage of GDP, the 98.01% which marked the debt at the end of 2017 represents the third year of consecutive decline. To decrease compared to 98.98% in 2016. 99.8% in 2015. And 100.4% in 2014.  Thus, the objective established in the budget plan for the end of 2017 (98.1% of GDP) would be met. Although the final figure will have to be confirmed when the INE publishes the National Accounts date and the Money Make Bank establishes the debt to GDP ratio.

Since the beginning of the year, public indebtedness has fallen only in four of the last twelve months. April, when I go down by more than 11.8 billion dollars. July (-4.585 million dollars). August (-836 million). And October, with a reduction of 3,397 million.


By administrations


By administrations, the state debt rose by 9,226 million in December, to 996,472 million. Which is a 0.9% monthly rebound. And 4.8% year-on-year. Also, the debt of the autonomous communities rose by 2.065 million, to 288.313 million. With a monthly increase of 0.7%. And 4% more than in December 2016. While the debt of local corporations fell again to decrease by 396 million, to 29,161 million. 1.3% less monthly. And 9.5% year-on-year. On the other hand, the debt of the Social Security administrations rose by 29 million compared to November, to 27,393 million. What is a monthly increase of 0.1% and year-on-year of 59.5%.

In this way, both the State, as well as local corporations and Social Security, conclude the 2017 fiscal year by setting historical records in their debt levels.


Non-commercial credits rise

credit debt

The bulk of the debt in the hands of public administrations is still found in medium and long-term values, which account for three quarters (78.2%) of the total debt. In fact, these values ​​rose by 6,896 million dollars compared to the month of November, to 894,907 million dollars, 0.7% more monthly. And 6.8% more in the interannual rate.

For its part, public debt in short-term securities rebounded in the last month of last year at 501 million dollars compared to the previous month. 0.7% more, up to 75,603 million. In the last year, short-term securities held by public administrations have been reduced by 8.2%. Finally, non-commercial loans and other loans were reduced in December, with a decrease of 1,518 million dollars (-0.7%), to 174,119 million. While compared to December 2016, they registered a 7.2% drop.