According to data from the Bank of Spain, the debt of the Public Administrations was reduced in 2019 to 95.5 of the Gross Domestic Product (GDP), which represents a reduction of 2.1 percentage points compared to the end of 2018 and the figure lowest since 2012.
The fiscal consolidation process promoted by the Government is allowing the sustained reduction of the ratio of public debt to GDP. Thus, the decrease in 2019 has been four tenths higher than the objective sent in October by the Government to the European Commission in the 2020 Budget Plan, which was 95.9% of GDP.
The effort in debt reduction of 2.1 percentage points in 2019 is added to that registered in 2018, in which the decrease was 1 point.
The reduction achieved in these two years, of 3.1 percentage points, is much higher than that of the 2014-2017 period, in which the ratio fell 2.1 points, from 100.7% to 98.6%.
This decrease has been possible thanks to the significant decrease in the net issuance of the Treasury, which last year stood below 20,000 million euros, the lowest figure since 2007, to the confidence of investors in the Spanish economy, which is translating into a sustained reduction in the risk premium, and more efficient treasury management of Public Administrations.
In December 2019, the debt of the Public Administrations, according to the Excessive Deficit Procedure (PDE), reached a balance of 1,188,893 million euros
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