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Communication Department

STATISTICAL PRESS RELEASE Madrid, March 17, 2023

Monthly increase in the debt of the Public Administrations according to the methodology of the Excessive Deficit Protocol The debt of the Public Administrations amounted to 1. €490 billion in January 2023 With the progress data available1, the general government debt stock (AAPP) under the Excessive Deficit Protocol (EDP)2 amounted to 1. €490 billion (mm) in January 2023, with a growth rate of 4. 5% year-on-year.

1 This information is published on the website of the Banco de España, section dedicated to Statistics, topic Public Administrations, tables 11b (Debt PDE of the Public Administrations) and 12c (Debt PDE of the State) of the indicators (link). These monthly debt data are prepared on the basis of progress information, so they are subject to revision as a result of the incorporation of the latest available information – including possible reclassifications of units – and the contrast of the same with indebted administrations.

2 EDP debt is the concept of indebtedness used in the context of the Stability and Growth Pact and usually in the analysis of the sustainability of public finances. This concept includes the liabilities of general government materialized in cash and deposits, debt securities and loans, valued at their nominal (facial) values and excluding liabilities issued by general government held by other units of the same sector (consolidation).

The balance of the State's debt rose to 1. 319 billion euros, with a year- on-year increase of 6. 2%, while for the Other Units of the Central Administration3 the balance was 44 mm, representing a decrease of 9. 8% compared to the previous year. For its part, the debt balance of the Social Security Administrations stood at 106 mm, 9. 2%4 more than a year earlier.

Regarding the territorial administrations, the debt of the Autonomous Communities grew to 315 billion euros in January 2023, with a year-on-year variation of 1. 6%, while the debt of Local Corporations stood at 23 billion euros in this month, which is 3. 3% more than the balance registered in January 2022. On the other hand, consolidation in the general government as a whole – that is, the debt held by the different subsectors that make up this sector – increased by 7. 4% compared to the previous year, to 318 billion euros.

GENERAL GOVERNMENT DEBT BY SUBSECTOR

2. 1 BALANCES IN BILLIONS OF EUROS

2. 2 YEAR-ON-YEAR GROWTH RATES

%

30

20

10

0

-10

-20

FIGURE 2

%

60

40

20

0

-20

-40

OOAA CCLL

Social Consolidation Section

Status CCAA AAPP

OOAA CCLL Social Sec. (right scale)

Status CCAA AAPP

mm

2000 1800 1600 1400 1200 1000 800 600 400 200 0 -200 -400

3 The other units of the Central Administration are, among others, SAREB (Sociedad de Gestión de Activos Procedente de la Reestructuración Bancaria), BFA (Banco Financiero y de Ahorros, holder of shares), FADE (Fondo de Amortización del Déficit Eléctrica) and FROB (Fondo de Reestructuración Orden Bancaria).

4 This increase is due to loans granted by the State to the General Treasury of the Social Security to finance its budgetary imbalance.

2

Additional information To consult more detailed statistical information, and with complete time series5 of the debt of the General Government according to the Excessive Deficit Protocol, you can visit the General Government statistics website of the Bank of Spain.

Next publication of monthly data6 The advance of the debt of the Public Administrations according to the EDP of the month of February 2023 will be published on April 21, 2023.

Next publication of quarterly data General government debt according to the EDP for the fourth quarter of 2022 will be published on 31 March 2023.

5 Complete time series can also be consulted in the information search systemBIEST.

6 The dates of publication of public debt statistics can be consulted on the Banco de España statistics website.

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