The Prime Minister, Mariano Rajoy. EFE / Archive
The debt of the Spanish government has passed in the second quarter trillion euros (1,012,643 million), a record high in the stands 98.9 percent percent of GDP, is six tenths of the government forecast for the year (99.5%).
Meanwhile, Galicia cut its public debt in the second half at 198 million euros, 0.4 points less than in the previous quarter, and already has a debt / GDP 4.4 points lower than the average for communities as reflected in the data provided by the Bank of Spain.
In the whole state, the government debt in the second quarter rose 6.54%.
Secretary of State for Economic, Inigo Fernandez de Mesa said in his first press conference in office that the Government is confident of meeting its forecasts and stressed that public debt will stabilize in 2015 and 2016, later reduced.
“No hope, he said, any changes respecting the Stability Programme” under which the debt still rise in 2015, reaching 101.7% of GDP, while lower in 2016 (101.5%) and 2017 (98 , 5%).
The biggest debt in absolute terms until June corresponded to the central government, with a debt of 885 232 000, equivalent to 86.4% of GDP and 7.84% from a year earlier.
However, in relative terms, the communities had the largest increase, up 15.7%, with a debt in the second quarter of 228,234,000, 22.3% of GDP.
Galicia ended the second quarter of 2014 with a debt / GDP ratio of 17.9%, which expands to 4.4 positive points differential to the average of the communities, which stands at 22.3, so the Galician is placed between the smallest autonomous debt ratio.
The local authorities are the best performing and further reduced its debt to 41.994 million, 5.7% lower than a year earlier, but rose slightly from the previous quarter.
The Bank of Spain said that the increase in joint government debt (6,000 million euros) is due to the use of the new methodology of the European System of Accounts (ESA) 2010, in force across the EU on 1 September.
The bank said that the change in methodology also affects the calculation of GDP, the National Statistics Institute (INE) will review in the coming days, which will cause the ratio of debt to GDP decline “significantly”.
For communities, Catalonia is still the most indebted in absolute terms (61.836 million, 15.10% higher than a year earlier), followed by Valencia (34.782 million, 16.5% more), Andalucía (26548000, 21.9%) and Madrid (25.018 million, 10.45% more).
In relative terms, the Valencian Community is at the head with a debt reaching 35.7% of GDP, followed by Castilla-Mancha (34.2% of its GDP), Catalonia (32.1% of GDP ) and Balearic Islands (29.1% of its GDP).
In how municipal debt, the most important to the second quarter was the de Madrid (6,923,000) followed by Barcelona (1,011 million).
However, the Barcelona City Council was further reducing its debt, 10.45 per cent. n
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