At the end of the 3^rd quarter of 2024

Gross debt of the Regional Public Administration stood at 5 020.0 million euros

The gross public debt of the Regional Public Administration (RPA) stood at 5 020.0 million euros at the end of the 3^rd quarter of 2024, reflecting a reduction of approximately 61.0 million euros (-1.2%) compared to the previous quarter and a decrease of 150.3 million euros (-2.9%) compared to the same period in the previous year. The quarterly decline is attributed to the repayment of loans, while the year-on-year reduction is primarily explained by diminished refinancing needs—higher in 2023 (300 million euros) than in 2024 (225 million euros)—and by the effective repayment of debt using the Region's own revenue streams.

An analysis of the evolution of the gross debt composition by financial instrument reveals that in the 3^rd quarter of 2024, the proportion of loans accounted for 38.2% of the total (down from 41.6% in the same quarter of 2023), while securitised debt represented 61.8% (up from 58.4% in the 3^rd quarter of 2023).

A breakdown of the debt by issuing sector indicates that the Regional Government is responsible for 96.8% of the total debt (up from 93.8% in the same quarter of the previous year), while Public Enterprises classified within the scope of the Regional Public Administration account for 3.2% (down from 6.2% in the 3^rd quarter of 2023).

Net debt excluding deposits amounted to 4 655.2 million euros

At the end of the 3^rd quarter of 2024, net debt excluding deposits amounted to approximately 4,655.2 million euros, marking a reduction of 107.5 million euros (-2.3%) from the end of the previous quarter and a decline of 162.6 million euros (-3.4%) compared to the same period in the previous year.

Notes:
Public debt (Maastricht definition/optics)
Public debt under the Maastricht definition refers to the consolidated gross debt of Public Administrations, valued at nominal terms and used in the context of European budgetary supervision. This concept differs from the total stock of liabilities defined under the European System of Accounts (ESA) in terms of both the instruments included and the valuation criteria. Notably, it excludes certain financial instruments, such as shares and other equity, financial derivatives, and other payables/receivables, particularly commercial debts. Debt is valued at nominal terms, representing the amount that the issuing/debtor public administration is obligated to repay at the contract's maturity. The threshold 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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