finance
Spain cuts 2025 deficit to 2.2% of GDP, lowest since 2007
Spain closed 2025 with a 2.2% public deficit, the lowest since 2007 and below its 2.5% EU commitment, supported by strong tax receipts and above‑average GDP growth.
Mar 31st 2026 · Spain
Insights
- General government deficit fell to 2.2% of GDP in 2025, below the 2.5% commitment to the EU.
- Including Valencia disaster spending the deficit rises to 2.4% and still meets the EU limit.
- The deficit narrowed by €9 billion in 2025 to €36,780 million and by about €76 billion since 2020.
- Spain recorded a primary surplus for the first time in almost 20 years.
- Tax revenue grew 10.4% to €325.356 billion, led by IRPF, VAT and corporate tax increases.
- GDP expanded 2.8% in 2025, outperforming the euro area average of 1.4%.
- Public debt fell to 100.7% of GDP at end-2025, about €1.698 trillion, with a government target of 90% by 2031
Sources
- L'Estat fa rècord de recaptació i rebaixa el dèficit al mínim des del 2007 www.ara.cat
- Los ingresos fiscales suben un 10,4% en un año y permiten reducir el déficit sin ajustar el gasto www.abc.es
- El déficit público de España alcanza mínimos históricos desde el 2008 www.lavanguardia.com
- Aragón cerró 2025 con un déficit del 0,38 %, por encima de la media www.heraldo.es