At the end of the 1^st quarter of 2024

Gross debt of the Regional Public Administration stood at 4,935.8 million euros

At the end of the 1^st quarter of 2024, the gross debt of the Regional Public Administration amounted to 4,935.8 million euros, representing a decrease of approximately 66.5 million euros(-1.3%) compared to the end of the previous quarter, and a drop of 89.5 million euros (-1.8%) compared to the same period last year.

Analysing the evolution of the composition of gross debt by financial instrument, it is noted that in the 1^st quarter of 2024, the proportion of loans accounted for 39.8% (compared to 44.5% in the same quarter last year) with debt securities representing 60.2% (compared to 55.5% in the 1^st quarter of 2023).

The breakdown of the debt by issuing sector shows that the Regional Government is responsible for 96.7% (compared to 93.4% in the same quarter last year) of the total debt, while Public Enterprises classified within the scope of the Regional Public Administration accounting for 3.3% (compared to 6.6% in the 1^st quarter of 2023).

Net debt excluding deposits amounted to 4,729.9 million euros

At the end of the 1^st quarter of 2024, net debt, excluding deposits, amounted to 4,729.9 million euros, representing a decrease of approximately 75.5 million euros (-1.6%) compared to the end of the previous quarter, and a decrease of 106.8 million euros (-2.2%) 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 consolidated gross debt valued in nominal terms. This concept differs from the total stock of liabilities defined in the SEC, both in terms of the instruments accounted for and in terms of valuation criteria. It is a less comprehensive concept that does not include, among other financial instruments, stocks and other participations, financial derivatives, or other debts/credits, particularly commercial debts. This concept of debt adopts nominal value as the valuation rule, meaning the amount that the public administration (issuer/debtor) is obligated to repay at the end of the contract. The limit established in the annexe protocol 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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