The Junta de Castilla y León, which directs Alfonso Fernández Mañuecohas managed to reduce community debt to the lowest levels of the last decade. According to data thrown by the Bank of Spain, the region closed 2024 with a debt of 14,239 million euros, which is equivalent to 18.9 % of the gross domestic product (GDP).
This reduction, which has meant a decrease of almost 5 percentage points In the last four years, it has caused the Moody’s agency to improve the financial profile of the community, raising the stable to positive rating.
In addition, this ratio remains Below the autonomic averagewhich is at 21.1 %, being lower in 2.2 percentage points. “The proper budgetary and financial management has allowed to control its level of debt without impairing the quality of the essential public services it provides,” said the Government of Castilla y León through a statement.
The analysis of the structure of the Endstuding Portfolio of Castilla y León in terms Sec 2010 (European Accounts System), attending who the lenders are, reveals that at the end of 2024, the largest amount corresponds to the Public Debt Emissionswhich represent 20.7 %, with 2,950 million euros. Secondly, there is the financial facility fund with 1,774.2 million euros (12.5 %) corresponding to loans arranged in 2015 and 2020.
As relevant lenders They also include multilateral financial entities, such as the European Investment Bank and the Development Bank of the Council of Europe, with 1,590.9 million euros, 11.2 % of the community’s debt.
On the other hand, 96.6 % of Castilian and Leon indebtedness It corresponded to the General Administration, compared to 3.4 % of universities, autonomous bodies, public entities of private law and public companies, among others.
Regarding the expiration terms99.4 % of the living debt of the community is formalized in the long term compared to 0.6 % signed in the short, which minimizes the risks of refinancing. Likewise, 71.1 % are arranged at a fixed interest rate and 28.9 % to variable, a cast that allows mitigating the EURIBOR increase effect, and is completely subscribed in euros.
The Bank of Spain also accounts for 4,344 million euros the debt of those regional public companies that are not included in the Sec 2010, without Castilla y León having assigned any additional amount. Thus, taking into account the data of the entire regional public sector, the average indebtedness ratio with respect to GDP would rise at 2024 to 21.4 %, compared to 18.9 % of Castilla y León.
