Spain: debt and deficit

General government covers every level together: the central state, the regions, the town councils and Social Security. The Spanish government sets the deficit targets for all of them within EU rules.

Government debt

Gross consolidated debt of general government, % of GDP, end of year.

Budget balance

General government surplus (+) or deficit (−), % of GDP.

Years with large one-off operations: 2012 (bank recapitalisation) and 2020–21 (COVID-19 measures).

Debt across the EU,

% of GDP.

Budget balance across the EU,

% of GDP; negative is a deficit.