Developments in Spanish public debt in 2023

Abstract

Rationale This article analyses Spanish general government debt in 2023 based on the statistics prepared and published by the Banco de España and drawing comparisons with other euro area countries. Takeaways •In 2023 Spain’s public debt-GDP-ratio fell by 3.9 percentage points (pp) to 107.7%. •The central government remained the most indebted sub-sector, with a debt-to-GDP ratio of 98.1%. •The debt ratio for the euro area overall stood at 88.6% of GDP, down by 2.2 pp on 2022.