At the end of the 3^rd quarter of 2025

Gross debt of the Regional Public Administration stood at 4 907.4 million euros

At the end of the 3^rd quarter of 2025, the gross debt of the Regional Public Administration (RPA) stood at 4 907.4 million euros, having decreased by approximately 313.6 million euros (-6.0%) compared to the end of the previous quarter and fallen by 112.6 million euros (-2.2%) compared to the same period of the previous year.

The decreases result partially from loan repayments, as well as from the effect of the actual amortisation of debt using the Region's own revenues.

Analysing the evolution of the composition of gross debt by financial instrument, it can be observed that in the 3^rd quarter of 2025, the share of loans was 36.8% (38.2% in the same quarter of the previous year) and that of securities debt was 63.2% (61.8% in the 3^rd quarter of 2024).

The breakdown of debt by issuing sector shows that the Regional Government is responsible for 97.7% (96.8% in the same quarter of the previous year) of total debt and Public Enterprises classified within the Regional Public Administration perimeter for 2.3% (3.2% in the 3^rd quarter of 2024). 

Net debt of deposits stood at around 4 508.4 million euros

At the end of the 3^rd quarter of 2025, net debt of deposits stood at around 4 508.4 million euros, having decreased by approximately 139.6 million euros (-3.0%) compared to the end of the previous quarter, and decreased by 146.8 million euros (-3.2%) compared to the same period of the previous year.

Notes:

Public debt (Maastricht definition /optics)

Public debt under the Maastricht definition corresponds to the definition of general government debt relevant in the context of European budgetary surveillance. It is a concept of consolidated gross debt valued in nominal terms. This concept diverges from the total stock of liabilities defined under ESA, both with regard to the instruments recorded and in terms of the valuation criterion. It is a less comprehensive concept that does not include, among other financial instruments, shares and other equity, financial derivatives, or other accounts payable/receivable, most notably trade payables. This debt concept adopts nominal value as its valuation rule, i.e. the value that the general government (issuer/debtor) shall repay 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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