Cash in Euros. Credit: Pixabay, Pexels
Spain’s public debt stood at 103.4% of GDP in June 2025, marking a drop of 1.9 percentage points compared with the same month last year, according to the Banco de España.
Spain’s debt falls as borrowing still increases
While the debt-to-GDP ratio declined, the total amount of debt in cash terms continued to rise. Spain’s overall public debt reached €1.69 trillion, an increase of 4 per cent compared with June 2024.
The report added, ‘The debt of the Social Security administrations stood at €126 billion, 8.6 per cent more than a year earlier and equal to 7.7 per cent of GDP.’
Most Read on Euro Weekly News
Long-term borrowing drives the numbers
Looking at the structure of the debt, long-term bonds and securities rose by 4.6 per cent compared with June 2024, while long-term loans declined by 0.5 per cent. Short-term debt instruments were also up, showing a 3.8 per cent increase year-on-year.
Even with its small decline, Spain’s debt remains among the highest in the euro area. According to Eurostat, the average debt-to-GDP ratio across the eurozone was 88 per cent in early 2025.
The Banco de España confirmed that updated figures for July 2025 will be published on September 17, with detailed second-quarter statistics scheduled for September 30.
Spain’s public debt has now fallen for the second consecutive year in relation to GDP.
View all finance news.
View all news from Spain.