The Bank of Spain confirmed this Wednesday that the Spanish public debt closed 2023 at 107.7% of GDP3.9 points less than at the end of the previous year and four tenths below Government forecasts (108.1% of GDP).

This correction of the debt rate was possible thanks to the growth of the economy, since the debt reached 1,573,754 million euros4.7% higher than in 2022. This represents the highest close in the all-time series.

Fall over the past three years

The Ministry of the Economy already highlighted a few weeks ago that Spain continues to reduce the debt/GDP ratio at a “good pace and consistently”. maximum reached during the pandemic. From that moment on, In just over 3 years, it has already been reduced by 17.6 percentage points, reduction greater than expected,” noted the ministry led by Carlos Corp.

Furthermore, and for this year, the Government estimated that the public debt/GDP ratio will continue its downward trajectorywith the forecast of a reduction of hup to 106.3%.

By wbu4c

Leave a Reply

Your email address will not be published. Required fields are marked *