The ratio of the debt of Public Administrations (AAPP) stood at 101.4% of Gross Domestic Product (GDP) in the second quarter of 2026, 1.8 percentage points lower than in the same period of the previous year, as reported by the Bank of Spain this Wednesday.
In absolute terms, the debt of the AAPP reached a record balance of 1.763 trillion euros, with a growth rate of 4.3% year-on-year.
It is worth remembering that the Government expects the public debt-to-GDP ratio to be below 100% by the end of 2026. Specifically, it is projected to end the year at 99.3%, bringing forward by a year the goal of reducing this figure below 100%.
However, the Government's Medium-Term Fiscal and Structural Plan does not specify when the debt will be reduced below the prudent levels of 60% set by the European Union (EU), although it does foresee a downward path over the coming years.
Regarding the evolution of the debt of the different subsectors of the AAPP, the total debt of the Central Administration stood at 1.613 trillion euros in June 2026, representing 92.8% of GDP. The year-on-year growth of this subsector's debt was 4.2%.
By components, the State's debt reached 1.602 trillion euros in this quarter (92.1% of GDP), which represents an increase of 4.4% compared to the same period in 2025, while for the Other Units of the Central Administration, the balance was 31 billion euros (1.8% of GDP) in June 2026, 8.3% lower than recorded the previous year. The consolidation between the two was 20 billion euros (1.1% of GDP).
On the other hand, the debt of Social Security Administrations rose to 136.178 million, 7.9% higher than observed a year earlier, 7.8% in terms of GDP.
