Spain recorded a Government Budget deficit equal to 3.20 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Spain Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2024, the budget balance in relation to the gross domestic product (GDP) in Spain was estimated at about -3.15 percent. Between 1980 and 2024, the figure dropped by approximately 1.12 percentage points, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the budget balance will steadily grow by around 1.12 percentage points from 2024 to 2030.The indicator describes the general government net lending / borrowing, which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

Spain recorded a government budget deficit of 9501 EUR Million in May of 2025. This dataset provides the latest reported value for - Spain Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Spain Consolidated Fiscal Balance: % of GDP

• Spain Consolidated Fiscal Balance recorded a deficit equal to 3.2 % of its Nominal GDP in Sep 2024, compared with a deficit equal to 3.3 % in the previous quarter
• Spain Consolidated Fiscal Balance to GDP data is updated quarterly, available from Dec 1995 to Sep 2024, with an average ratio of -3.6 %
• The data reached an all-time high of 2.6 % in Sep 2007 and a record low of -11.5 % in Dec 2012

CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from quarterly Consolidated Fiscal Balance and quarterly Nominal GDP. General Comptroller of the State Administration provides year-to-date Consolidated Fiscal Balance in EUR. National Statistics Institute provides Nominal GDP in EUR.


Further information about Spain Consolidated Fiscal Balance: % of GDP

• In the latest reports, Spain National Government Debt reached 1,823.5 USD bn in Sep 2024
• Spain Nominal GDP reached 378.4 USD bn in Mar 2023

In 2024, the budget balance in Spain was estimated at about -54.12 billion U.S. dollars. Between 1980 and 2024, the figure dropped by approximately 51.95 billion U.S. dollars, though the decline followed an uneven course rather than a steady trajectory. From 2024 to 2030, the budget balance will rise by around 9.54 billion U.S. dollars, showing an overall upward trend with periodic ups and downs.

Spain recorded a Government Debt to GDP of 101.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - Spain Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Spain National Government Debt

• Spain National Government Debt reached 1,823.5 USD bn in Sep 2024, compared with 1,741.7 USD bn in the previous quarter.
• Spain National Government Debt data is updated quarterly, available from Dec 1990 to Sep 2024.
• The data reached an all-time high of 1,823.5 USD bn in Sep 2024 and a record low of 207.1 USD bn in Jun 1991.

CEIC converts quarterly Government Debt into USD. Banco de España provides Government Debt in EUR based on ESA 2010. The Federal Reserve Board period end market exchange rate is used for currency conversions. Government Debt prior to Q1 1994 is based on ESA 1995.


Related information about Spain National Government Debt

• In the latest reports, Spain Consolidated Fiscal Balance recorded a deficit equal to 3.3 % of its Nominal GDP in Jun 2024.
• The country's Government debt accounted for 104.4 % of its Nominal GDP in Sep 2024.
• Spain Nominal GDP reached 378.4 USD bn in Mar 2023.

According to the source, the budget balance of the social security as a percentage of GDP in Spain in 2020 stood at at -0.5 percent. The Spanish social security's deficit is expected to level off at 0.3 percent of the country's GDP from 2024 onwards.

Spain: Budget balance forecast, percent of GDP: The latest value from 2030 is -2.03 percent, an increase from -2.16 percent in 2029. In comparison, the world average is -2.33 percent, based on data from 81 countries. Historically, the average for Spain from 1995 to 2030 is -3.37 percent. The minimum value, -11.13 percent, was reached in 2009 while the maximum of -0.08 percent was recorded in 2006.

Spain ES: Net Incurrence of Liabilities: Total: % of GDP data was reported at 4.492 % in 2016. This records a decrease from the previous number of 5.605 % for 2015. Spain ES: Net Incurrence of Liabilities: Total: % of GDP data is updated yearly, averaging 3.746 % from Dec 1972 (Median) to 2016, with 45 observations. The data reached an all-time high of 14.163 % in 2012 and a record low of -0.921 % in 2003. Spain ES: Net Incurrence of Liabilities: Total: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Spain – Table ES.World Bank: Government Revenue, Expenditure and Finance. Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files.; Weighted Average;

According to the source, the forecast on the budget balance of the autonomous communities as a percentage of GDP in Spain in 2023 stood at -0.9 percent. The budget of the autonomous communities is expected to be in deficit again in 2024, when such a share would represent -0.1 percent of Spain's GDP.

Key information about Spain Government Debt: % of GDP

• Spain Government debt accounted for 104.3 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 105.3 % in the previous quarter.
• Spain government debt to GDP ratio data is updated quarterly, available from Mar 1995 to Sep 2024.
• The data reached an all-time high of 124.2 % in Mar 2021 and a record low of 34.9 % in Mar 2008.

Banco de España provides quarterly Government Debt as % of Nominal GDP based on ESA 2010.


Related information about Spain Government Debt: % of GDP

• In the latest reports, Spain National Government Debt reached 1,823.5 USD bn in Sep 2024.
• The country's Nominal GDP reached 378.4 USD bn in Mar 2023.

Spain: Fiscal balance, percent of GDP: The latest value from 2023 is -3.6 percent, an increase from -4.7 percent in 2022. In comparison, the world average is -2.83 percent, based on data from 143 countries. Historically, the average for Spain from 1995 to 2023 is -4.19 percent. The minimum value, -11.6 percent, was reached in 2012 while the maximum of 2.1 percent was recorded in 2006.

According to the source, the forecast on the budget balance of local governments as a percentage of GDP in Spain in 2022 stood at 0.2 percent. Local entities' surplus is expected to increase to 0.4 percent of Spanish GDP in 2024, the highest figure of the analyzed period.

Spain ES: Net Incurrence of Liabilities: Total data was reported at 50,244.423 EUR mn in 2016. This records a decrease from the previous number of 60,529.084 EUR mn for 2015. Spain ES: Net Incurrence of Liabilities: Total data is updated yearly, averaging 9,953.962 EUR mn from Dec 1972 (Median) to 2016, with 45 observations. The data reached an all-time high of 147,273.372 EUR mn in 2012 and a record low of -9,165.655 EUR mn in 2007. Spain ES: Net Incurrence of Liabilities: Total data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Spain – Table ES.World Bank: Government Revenue, Expenditure and Finance. Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files.; ;

According to the source, the forecast on the budget balance of the Public Administration as a percentage of GDP in Spain in 2022 was reported at -4.2 percent. The deficit of the Public Administration is expected to decrease during the following years, and by 2025 such deficit is forecasted to represent three percent of the country's GDP.

PROJECT DESCRIPTION: Replication package for Sabate, Marcela; Fillat, Carmen; Escario, Regina: “Budget deficits and money creation: Exploring their relation before Bretton Woods”, to be published in Explorations in Economic History (accepted December 2018). Panel of seventeen countries from 1870 to 1938. Ten countries are sometimes-floaters before the WWI: Argentina, Bulgaria, Brazil, Chile, Greece, Italy, Japan, Portugal, Romania and Spain. Seven countries are never-floaters before the WWI: Canada, Finland, the Netherlands, Norway, Sweden, the UK and the USA. Equation8.dta (Stata format): Data of public budget, monetary base and nominal GDP. Replication program Equation 8 offers a dynamic heterogeneous estimation of variations in the monetary base on the budget balance. Equation9.dta (Stata format): Data of variations in the monetary base, real GDP per capita( in 1990 Geary-Khamis dollars), average of public spending level , standard deviation of public spending levels, ratio of debt to nominal GDP and number of cabinet changes per year. Replication program Equation 9 offers a dynamic panel estimation of variations in the monetary base on the rest of variables. Abstract of the paper: The sovereign debt crisis in the Eurozone has rekindled the use of the North-South (core-periphery) terminology to refer to the heterogeneity of countries belonging to the Economic and Monetary Union (EMU). In the gold standard literature, this geographical partition had already been employed to oppose the fiscal profligacy and subsequent problems of convertibility of southern countries against the fiscal probity and long convertibility records of their northern counterparts. We provide statistical evidence that the group of countries that, with available data for 1870-1938, exhibited convertibility problems during the classical gold standard, for this reason called the pre-WWI sometimes-floaters, shared a pattern of fiscal dominance. This finding for the sometimes-floaters (southern European and South American countries plus Japan) differs from the non-fiscal dominance pattern that we obtain for the pre-WWI never-floaters (northern Europe and North America countries) when the Great War and its aftermath years are omitted. We also show that the presence of fiscal dominance was partly due to the lower levels of tax efficiency and political stability in the South.

Spain ES: General Government: Primary Balance: % of GDP data was reported at -0.398 % in 2023. This records a decrease from the previous number of -0.345 % for 2022. Spain ES: General Government: Primary Balance: % of GDP data is updated yearly, averaging -0.636 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 3.479 % in 2006 and a record low of -9.617 % in 2009. Spain ES: General Government: Primary Balance: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Spain – Table ES.IMF.FM: Government Finance Statistics.

The Spanish Central Government's deficit is expected to fall between 2022 and 2025. Such deficit represents 3.2 percent of the national GDP in 2022. Forecast shows that the lowest deficit is expected in 2025, when 2.9 percent is reached.

Spain State Government Budget Balance: Year to Date: Percent of GDP data was reported at -1.093 % in Sep 2018. This records an increase from the previous number of -1.554 % for Aug 2018. Spain State Government Budget Balance: Year to Date: Percent of GDP data is updated monthly, averaging -1.271 % from Jan 2004 (Median) to Sep 2018, with 177 observations. The data reached an all-time high of 1.317 % in Dec 2007 and a record low of -9.236 % in Dec 2009. Spain State Government Budget Balance: Year to Date: Percent of GDP data remains active status in CEIC and is reported by General State Controller. The data is categorized under Global Database’s Spain – Table ES.F004: ESA 2010: Government Revenue and Expenditure: State.