The Government admits the need to clean up more than 116,000 million social security debt
Public debt will increase from 2030 due to aging and ‘baby boom’, alerts airf
Social Security debt has played new historical maximum, With a hole In the accounts of 126,178 million euros In the second quarter of 2025, What it means a Growth of 8.6% compared to a year ago, As shown by statistical data published Tuesday by the Bank of Spain.
This is the greater debt figure in absolute terms of the entire historical series, and the data higher from The month of November 2024 (Then it increased to 126,177 million), when it increased by 10,000 million euros from a single cup, mainly due to the fertilizer of the extra Christmas pay of that year.
More in detail, the hole Social Security In June 2025 corresponds to 7.7% of GDP (Gross Domestic Product) Spanish, according to the statistics of the Bank of Spain.
Evolution of Social Security Debt
The Bank of Spain, led by José Luis Escrivá, also explains that the Increase in indebtedness of social security in the last year is due to loans granted by the State to the General Treasury of Social Security to finance your Budget imbalance.
“Worrying” debt, according to experts
The strong increase in social security debt in recent years is worrying, although it is guaranteed the monthly payment of the payments to the more than 10.5 million tax pensioners, according to Experts warn, Among them, the Bank of Spain, the independent authority of fiscal responsibility (Airef) or the Think Tank Fedea
The bulky hole social security dates back to Covid-19 pandemic expenses, that triggered public aid, while decreased income from social contributions.
The debt shot also influences the 2021 pension reform, which establishes the Annual revaluation with the CPI, What has accelerated the pace of progression of spending, since the increases of one -year payments are already consolidated in the payroll forever, and on that new figure the following revaluation apply.
Spain, at debt maximum with 1.69 billion euros
For its part, the debt of the whole of the Public Administrations (AAPP) stood in maximums of 1,691 billion euros In the second quarter of the year, staying in the 103.4% of GDP, according to the advanced data of the Bank of Spain.
The 103.4% figure of GDP remains unchanged with respect to the percentage registered in the first quarter of this year and drops by 1.8 points compared to 105.2% of the second quarter of 2024, although it is above the data noted at the end of 2024 (101.6%).
He Government plans to reduce the debt ratio on GDP to 101.7% at the end of 2025. More long term, the Executive provides that the debt falls to 98.4% in 2027, 90.6% in 2031 and 76.8% in 2041.
In absolute terms, the public debt has grown at 23,546 million of euros, 1.4% more, compared to the first quarter of the year. Faced with the second quarter of 2024, indebtedness has risen at 65,254 million, 4% higher.
State debt reaches 94.7% of GDP
More in detail, the balance of the debt of the central administration as a whole, that is, the State, stood in 1,548 billion euros In June 2025, which represents 94.7% of GDP. The growth of the debt of this subsector in interannual terms was 4.3% and 1% compared to the previous quarter.
As for Autonomous communities, They must 342,805 million of euros, 21% of GDP. In absolute terms, the year -on -year growth was 1.6% and 1.3% compared to the first quarter. The communities with higher relative levels of debt They are the Valencian Community, which continues leading with a ratio of 39.9%, followed by the Murcia region (30.2%), Catalonia (29.5%) and Castilla-La Mancha (28.5%).
The data of the Bank of Spain also show that the joint debt of the municipalities It is located in 23,338 million of euros (1.4% of GDP), 0.8% lower than the same period of the previous year. As for the municipalities with more than 300,000 inhabitants, that of Madrid continues to register the highest volume of debt, with 2,110 million of euros, followed by Barcelona (1,375 million) and Zaragoza (540 million).
