Canary Islands ended the third quarter of the year as the second least indebted autonomous community in Spain: 11.3% of its GDP, after Navarra, whose debt is 10.7%, according to updated data released this Friday by the Bank of Spain.
Spanish public debt marked a new record in the third quarter, reaching 1,636,116 million euros, 10,053 million more than in the second quarter and 57,304 million more than in the same period of 2023.
Despite this historical maximum, economic growth allowed the debt-to-GDP ratio to fall to 104.4%, nine tenths less than in the previous quarter and three points less than a year ago.
The central administration accumulated a record debt of 1.5 trillion euros at the end of the third quarter, 96% of GDP, after adding 19,293 million compared to the previous quarter.
In contrast, the autonomous communities reduced their debt - by 4,297 million, to 333,177 million, 21.3% of GDP - and local corporations - by 412 million, to 23,111, 1.5% of GDP.
The Social Security maintained its debt unchanged, at 116,171 million, 7.4% of GDP.
The Valencian Community remains the most indebted
In the third quarter, the Valencian Community remained the most indebted autonomous community, with 40.4% of its GDP, followed by Murcia (30.7%), Castilla-La Mancha (30.3%), Catalonia (29.9%), the Balearic Islands (21%) and Extremadura (20.8%).
In contrast, the lowest debts were in Navarra (10.7% of its GDP), the Canary Islands (11.3%) and the Basque Country (11.7%).
In nominal terms, the largest debts were recorded in Catalonia (88,917 million), the Valencian Community (59,498 million), Andalusia (39,842 million) and Madrid (36,915 million).
With regard to the thirteen municipalities with more than 300,000 inhabitants, Madrid remained the one with the highest debt (2,047 million), followed by Barcelona (1,316 million) and Zaragoza (572 million).
