The debt of all government set a new record in the second quarter, to reach 1.012 billion euros. The amount is equivalent to 98.9% of GDP, the highest level in the time series.
According to data published by the Bank of Spain, the central government debt increased 7.84% (up to 885.232 million, equivalent to 86.4% of GDP), that of the regions increased 15.7% (up to 228.234 million, equivalent to 22.3% of GDP) and that of municipalities fell 5.7% (up to 41.994 million, equivalent to 4.1% of GDP).
The data released this morning reveal that a significant increase due to the methodological change implemented by the Bank of Spain . The European System of Accounts (ESA) came into force on 1 September and will also affect the calculation of GDP (data facilitate INE day 25).
In the data that today helps the Bank of Spain, the review was behind all figures to 1995, public debt administrations also incorporates some public enterprises (regional and municipal, for example, soil or from the exhibition sets) computed so far apart since technically considered market societies.
The new methodology modifies the criteria for these businesses and are more stringent. Therefore, from now on, the debt of these companies appear in the general account of the relevant administration.
In any case, this is a provisional figure. New SEC criteria also cause GDP growth , to take into account the activities of the prostitution and soft drugs . This means that, from 25, the final ratio of GDP on debt will be lower than today is provided as it is recalculated on a higher value of GDP at current and away the year’s target set in the budget. That ratio of debt to GDP could fall by between 25 between 2.7 and 4.5 points as a result of the rise of the nominal GDP.
debt by Autonomous Communities
Debt up in the second quarter in eleven communities Autonomous and Catalonia, Valencia, Madrid and Andalusia are concentrating most debt of the regional governments, with 64.9% of the total . Thus, debt Catalonia reached 61,863 million, followed by Valencia with 34,782 million; Andalucia with 26,548 million and Madrid, with 25,018 million.
Here are Castilla-La Mancha (12,341 million), Galicia (9,911 million), Basque Country (9,524 million), Castile and Leon (9,393 million), Balearic Islands (7,586 million), M urcia (6,367 million) and Aragon (6.131 million).
Ends table Canary Islands (5,462 million), Asturias (3,402 million), Navarra (3,366 million) Extremadura (2,904 million), Cantabria (2,356 million) and La Rioja (1,306 million).
Madrid, the most indebted municipality
As a percentage of GDP, Valencia , whose debt accounts for 35.7% of GDP, Castilla-La Mancha (34.2%), Catalonia (32.1%) and Balearic Islands (29.1%) are the communities where its debt is higher relative to their wealth. By contrast, Canarias (13.5%), Madrid (13.6%) and Basque Country (15.2%) are the regions where the debt to GDP weighs less.
Finally, between local corporations , Madrid is the council’s most indebted in the second quarter, with a ‘red’ 6923000 euros, 2.2% less than in the previous quarter. Barcelona, for its part, has a debt of 1011000 euros, in this case 6.9% lower than the previous three months.
No comments:
Post a Comment