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Public debt exceeds 100% of GDP in May and marks another record high

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New public debt increase and new record. The liabilities of the Spanish public administrations it rebounded in May at 23,124 million euros, the equivalent of 1.9% compared to April, in the middle of the coronavirus epidemic. After this growth, it returned to a record high (1,257,818 million euros) and exceeds 100% of Gross Domestic Product (GDP), according to data published this Friday by the Bank of Spain.

Regarding the same month of 2019, the debt rebound is even more significant. It increased by 5.5%, by more than 65.6 billion euros, because in May 2019 it stood at 1.19 trillion euros.

AND all administrations see their debt increased, both the State, including Social Security (both at all-time highs); such as the autonomous communities and municipalities.

In this way, the coronavirus crisis and the management by all administrations marks the step. In the case of the State, the debt rose 2% in May, compared to April, by 22,657 million euros; until reaching 1,121 billion euros.

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