Canarias ended the third quarter with a debt of 6.534 billion euros, 230 million less than in June, placing it as the second least indebted community in the country in comparable terms, at the equivalent of 10.8% of its gross domestic product (GDP), according to data published this Monday by the Bank of Spain.
Spanish public debt hit a new record in the third quarter of the year, reaching 1,709,330 million euros, 18,408 million more than in the second quarter and 73,599 million more than in the same period of 2024.
Despite this historic high, economic growth has allowed the debt-to-GDP ratio to fall to 103.2%, two tenths less than in the previous quarter and one point less than a year ago
The central administration had accumulated a record debt of 1.57 trillion euros by the end of the third quarter, 94.8% of GDP, after adding 23.021 million compared to the previous quarter.
Instead, the autonomous communities reduced their debt - by 4,001 million, to 338,804 million, 20.4% of GDP - and local corporations - by 861 million, to 22,477, 1.4% of GDP -.
Social Security slightly reduced its debt, by 5 million, to 126,173 million euros, 7.6% of GDP.
Valencian Community the most indebted, Navarre the least
In the third quarter, the Valencian Community remained the most indebted autonomous community, with 40.5% of its GDP, followed by Murcia (30.2%), Castilla-La Mancha (28.5%), Catalonia (28.4%), and Extremadura (19.1%).
On the contrary, the lowest debts were in Navarra (9.9% of its GDP), Canarias (10.8%), Madrid (11.5%), and the Basque Country (11.8%).In nominal terms, the largest debts were recorded in Catalonia (89,069 million), Valencian Community (62,424 million), Andalusia (40,452 million), and Madrid (37,829 million)Regarding the thirteen city councils with more than 300,000 inhabitants, Madrid remained the one with the highest debt (2,106 million), followed by Barcelona (1,365 million) and Zaragoza (523 million).
