This is the first monthly decline in 2022, but it continues to exceed the 55,761 million recorded a year ago
The first good news of the year in the evolution of the government debt balance, which was reduced by EUR 8,427 million in April compared to the previous month, according to preliminary data released this Friday by the Banoc of Spain.
This is the first correction of the total balance so far this year, thanks mainly to the decline in government debt, which in the period analyzed broke from the upward trend that had been registered for months due to the need to make an effort to spend additional due to the impact of the corona crisis and now the war.
However, optimism about this decline is completely wiped out when the data is compared to a year ago. In concrete terms, the government debt has increased by 55,761 million euros since April 2021. That’s 4% more.
The economic growth recorded over the period has made it possible to place the debt-to-GDP ratio at around 117.7%. But the data is still a long way from the government’s target of ending the year at 115.2%, according to the commitment made in the stability program update sent to Brussels at the end of April.
In total, the debt balance of all government services stood at 1.445 billion euros in April. The state continues to account for the bulk of this debt at EUR 1,264 billion, an annual increase of 5.1%.
For its part, the debt balance of the social security administrations remains 99,000 million euros, which is 16.2% more than a year ago.
As for the territorial authorities, the debt of the autonomous communities grew to 311,000 million in April, while that of the local companies amounted to 22,000 million euros this month, which is 1.1% less than the balance recorded in April 2021.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
