At the end of the 3^rd quarter of 2023

Gross debt of the Regional Public Administration amounted to 5,213.2 million euros

At the end of the 3^rd quarter of 2023, the gross debt of the Regional Public Administration (RPA) stood at 5,213.2 million euros, having decreased by approximately 59.2 million euros (-1.1%) compared to the end of the previous quarter and having increased by 83.7 million euros (+1.6%) compared to the same period last year.

Analysing the evolution of the composition of gross debt by financial instrument, it is observed that in the 3^rd quarter of 2023, compared to the same quarter last year, the proportion of loans decreased from 44.3% to 42.1%, while the opposite occurred regarding the percentage of securities, whose share, in the same period, increased from 55.7% to 57.9%.

The breakdown of debt by issuing sector shows that the Regional Government is responsible for 94.8% (92.0% in the same quarter last year) of the total debt, and Public Enterprises classified within the scope of the Regional Public Administration for 5.2% (8.0% in the 3^rd quarter of 2022).

Net debt excluding deposits amounted to around 4,860.8 million euros 

At the end of the 3^rd quarter of 2023, net debt excluding deposits amounted to around 4,860.8 million euros, having decreased by approximately 48.3 million euros (-1.0%) compared to the end of the previous quarter and having increased by 89.3 million euros (+1.9%) compared to the same period last year.

Notes:

Public debt (Maastricht definition/optics)

Public debt in the Maastricht definition/perspective corresponds to the relevant definition of debt of Public Administrations in the context of European budgetary supervision. It is a concept of gross consolidated debt valued in nominal terms. This concept differs from the total stock of liabilities defined in the SEC, both in terms of the accounted instruments and in terms of valuation criteria. It is a less comprehensive concept that does not include, among other financial instruments, shares and other equity, financial derivatives, or other debts/credits, especially commercial debts. This debt concept adopts nominal value as the valuation rule, that is, the value that the public administration (issuer/debtor) should amortize at the end of the contract. The limit established in the protocol annexed to the Treaty on the Functioning of the European Union is 60% of GDP.

Net debt excluding deposits

Net debt excluding deposits corresponds to Gross debt (Maastricht debt) subtracted by deposits in resident banks.

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