Overview
- Official figures released Tuesday by the Bank of Spain and the Finance Ministry showed public debt at 100.7% of GDP and a 2025 deficit of 2.18%.
- Spain’s debt stock rose in cash terms to €1.698 trillion, yet the ratio fell because the economy expanded and revenues grew.
- Tax income hit a record €325.356 billion in 2025, up 10.4%, led by higher personal income tax, corporate tax, and VAT receipts.
- Regional gaps remain large, with Comunidad Valenciana at 40.7% of regional GDP and Murcia, Castilla-La Mancha, and Catalonia close behind, while Madrid stood at 11.3% and Navarra and the Canary Islands were even lower.
- The government is updating forecasts for 2026 budgets, keeping a gradual debt decline on paper while factoring in Middle East tensions and recent disaster costs such as DANA relief.