Catalan public debt the lowest since 2014

Public debt in Catalonia fell 262 million euros in the first quarter of this year, to a total of 77.4 billion euros. The Catalan authorities thus managed to reduce the country’s debt-to-GDP ratio to 34.4%, the lowest since 2014, when it stood at 32.8%.

Yet, the figures published on Friday by the Bank of Spain show that public debt rose by half a point in Spain as a whole, to 98.8% of GDP, higher than the 97% objective for the whole year. In all, Spain owes 1,161 billion euros, 15 billion more than in the previous quarter.

In absolute terms, Catalonia is the autonomous community in Spain that has the most debt, followed by Valencia (45.4bn), Andalusia (34.1bn) and Madrid (33.4bn). In relative terms, however, Valencia comes first, with 41.1% of GDP, followed by Castile-La Mancha (35.7%), Catalonia (34.4%) and then the Balearic Islands (29.4%).