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The brutal impact of the crisis of the Covid 19 in the accounts in the national public has been elevated as the records of public debt to its historical maximum . And what has been done in the first quarter of the year, when the impact of the confinement affects only from mid-march. According to data from the Bank of Spain, the debt of the public administrations as a whole climbed in the first three months of the year up to few unpublished 1.224.161 million euros , which means to reach 98.9% of GDP, a 2,96% in relation to December 2019. This means that Spain has joined in these three months 35.294 million euros to the section of debt if it takes as reference the last year and 27.494 billion more if compared to the previous quarter.
The put in relation with the size of the GDP reveals that the debt ratio is 98.9%, which was 3.3 percentage points more than the level at which it closed the previous year (when the aim of the Government was to meet the level of 95.5%) and represents the highest level since the third quarter of 2018. The upward trend, in any case, has not done more to start. According to the calculations of the Government, the climb will continue to exceed 115% of the GDP , both by the increased emission of paper needed to finance the measures adopted to cushion the damage to health and economic aspects of the pandemic, such as by the collapse of the activity and the GDP, due to the hard confinement to which it has been subjected to the population . In fact, recently, the Treasury reviewed its funding programme and raised its forecast for issuance in more than 100,000 million euros.
The analysis by administrations reveals that the public debt was increased in all except in local corporations.
The debt of the State engordó until the 1.094.947 million euros in the third quarter, a 3.1% more than in the previous, and 2.7% more in terms of year-on-year, which represents 88.5% of GDP, the highest ratio in its history. The comunidadees, for their part, increased their borrowing in a more moderate, 0.9% quarter-on-quarter and 0.6% year-on-year, up to the 297.866 million euros in the first quarter, equivalent to 24.1% of GDP. is All regions raised their debt-to-quarter basis except for Andalusia, the Canary islands, Navarre, Basque Country and Valencian Community.
see Also the Social Security
For its part, the local governments reduced to 1.5% on its debt in the first quarter, until the 28.878 million euros, 11.9% less year-on-year. is Madrid , with a debt of 2,005 million euros (which has been reduced in the quarter by more than 10%), is the most leveraged, followed by Zaragoza , with 703 million (a million less) and Barcelona , with 731 million (-6,5%).
Also the debt of the Social Security rose to a historical maximum, up to 55.025 million, due to loans made by the State to finance part of its budgetary imbalance.