Spanish debt as a percentage of GDP is expected to reach 100.6% by the end of 2025.

Bank of Spain: It is expected that by the end of 2025, the proportion of debt to GDP will reach 100.6%, by the end of 2026 it will reach 99.1%, and by the end of 2027 it will reach 98.3%. The forecast maintains that the budget deficit as a percentage of GDP will be 2.5% in 2025 and 2.1% in 2026. It is expected that the inflation rate will be 2.7% in 2025 and 2.1% in 2026. The inflation expectation for 2027 has been revised down to 1.9%, from the previous expectation of 2.4%. GDP growth for the fourth quarter is expected to be 0.6%-0.7%, higher than the previous quarter; GDP growth for the 2025 fiscal year is forecasted to be 2.9%, higher than the previous forecast of 2.6%. At the same time, the GDP growth forecast for 2026 has been raised from 1.8% to 2.2%, and GDP growth for 2027 is expected to be 1.9%, higher than the previous forecast of 1.7%.