The data published today by the Ministry of Finance show that the outstanding debt as of December 31 of the set of Local Entities stood at 25,779 million euros. This represents a decrease of 3,177 million euros (-11%) in relation to the data recorded as of December 31, 2017.
The outstanding debt of the local entities, which is defined in accordance with the Protocol on Excessive Deficit Procedure, has been published today prior communication to the National Commission of Local Administration (CNAL).
Of the 25,779 million euros, 20,952 million correspond to the municipalities (-11.6%), 4,472 million to the provincial councils, councils and island councils (-10%) and 355 million to the rest of entities, such as mancomunidades or local entities Scope lower than the municipality (+ 35.3%).
If we consider the last 24 years, the financial debt of the Local Entities is, in absolute values, at the levels of the year 2005; and, in terms of GDP, at the lowest level of those more than two decades.
Likewise, the debt as of December 31, 2018 represents 2.1% of GDP, so that it meets the target set at 2.7% of GDP.