Spain's public debt has decreased to 100.8% of GDP, the lowest since before the pandemic, despite a historical absolute figure of €1.7 trillion.
Spain's public debt has reached €1.7 trillion as of December 2025, reflecting a historical maximum in absolute terms. However, as a percentage of GDP, the debt has fallen to 100.8%, the lowest level since February 2020, right before the onset of the pandemic. This reduction can be attributed to significant economic growth experienced over the previous year, which has helped moderate the debt burden relative to the size of the economy.
Despite the slight variation from November to December, the annual summary highlights that the total debt is still positioned at unprecedented levels. In the past year alone, the debt has increased by approximately €78 billion, indicating ongoing challenges in managing public financial stability. While the absolute figures present a concerning picture, the decline in the debt-to-GDP ratio suggests some alleviation of fiscal pressure as economic conditions improve.
The possibility of further reducing debt below the 100% mark is now within reach as Spain's economy continues to strengthen. This development not only provides a more favorable fiscal landscape but may also lead to increased confidence among investors and stakeholders, aligning with broader European economic trends. Managing this debt effectively will be crucial for Spain as it navigates post-pandemic recovery and aims for sustainable fiscal health in the future.
