Spain to Increase Net Debt to 60 Billion Euros in 2025
MADRID (Reuters) - Spain is set to issue net debt worth 60 billion euros ($62.5 billion) in 2025, Economy Minister Carlos Cuerpo said on Tuesday, up from the 55 billion euros issued in 2024.
He added that gross debt issuance would reach 278 billion euros, versus the 257 billion euros issued last year, which was equivalent to 17% of the country's gross domestic product.
Cuerpo told a news conference that the government was giving itself "enough flexibility to respond to the reconstruction needs" following devastating floods in southeastern Spain that killed 224 in October.
In terms of debt-to-GDP ratio, Madrid expects it to stand at 101.4% by the end of 2025, down from 102.5% at end-2024.
Spain's GDP "kept pace" in the fourth quarter of 2024, Cuerpo added, outpacing other large economies in the European Union.
The government estimates GDP growth for the whole of 2024 was 2.7%. It expects the economy to grow by 2.5% this year.
($1 = 0.9606 euros)
(Reporting by Inti Landauro and Emma Pinedo. Writing by David Latona. Editing by Mark Potter)
