The Community ended the second quarter of 2014 with a debt of 13.6% of GDP, 8.7 points below the average (22.3%), according to the latest data the Bank of Spain.
At the end of the year, once the regions take all authorized debt, Madrid remains the region with the lowest borrowing. This is because the Community has already placed in all debt markets in 2014 , both new and maturing debt, most of it in the first half of the year. However, the Canaries had to go to Autonomous Liquidity Fund (FLA), which covers only part of your debt, and he is unable to put the rest earned last quarter lower debt data.
Our region got all refinance maturing debt in 2014 would in less than a month after the authorization of the Council of Ministers, representing two consecutive records within 10 days on the public debt issues to capture the largest volume ever achieved by a Spanish region in the markets. In addition, prices closed in the months of June and July the placement of all debt authorized in 2014 with a public issue of 546 million, corresponding to new borrowing for this year and 1,240 million in long-term loans to banks under very advantageous.
The Community debt is almost two and half times less than that of Catalonia (32.1%) , a region that has accumulated a debt of more than EUR 36,818,000 Madrid, despite having a very similar Gross Domestic Product. In addition, the debt to GDP is 2.6 times Madrid less than that of Valencia and less than 1.6 Basque points.
Since 2003, the debt has grown in Madrid only 7.1 points, the lowest of all regions, while the rest has grown 16 points on average. Castilla-La Mancha has done 31.2 points (almost 5 times more than Madrid) and Catalonia 24.7 points (almost 4 times more than Madrid) and the Basque Country 12.1 points (almost double Madrid) .
In Madrid, the general government debt would be 19 points higher
The Community, which is Spain’s largest economy by generating nearly 1 5 USD of Spanish GDP, is only responsible for 2 euros 100 euros of Spanish debt. So, austerity Community borrowing slows all public administrations, which comes to 98.9%, because if it were not for the Madrid region, Spanish debt on GDP would be 117.6%, almost 19 points.
This best location in the community is due to the regional government’s commitment to budgetary stability and deficit reduction, because Madrid is the region with the lowest average deficit since the crisis began a 1% against the 2.4% average of the communities. In this sense, prices closed 2013 with -1.01% deficit to GDP, which means that fulfilled the average deficit target, set at 1.3% for the whole of the regions, and the individualized goal that the Ministry of Finance established to Madrid in -1.07%
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