Spain's public debt hits historic high as foreign investors hold nearly half

Spain's state debt reached €1.582 trillion, 4.5 % higher than in April 2025, with foreign investors now owning 49.43 % (€739.8 billion) – the highest share on record. The Treasury noted that foreign holdings rose by over €92 billion in the past twelve months, while the Bank of Spain’s share fell from 25.7 % to 21.8 %. Domestic banks retain about 14.4 % of the issuance.

The broader gross debt of non‑financial sectors – households, non‑financial companies and public administrations – totalled €4.2 trillion in the first quarter, according to the Bank of Spain’s financial accounts. Public administrations accounted for €2.07 trillion (central government €1.57 trillion, autonomous communities €344 billion, Social Security €136 billion, local corporations €20.7 billion). Companies and households owed €2.12 trillion (companies €1.4 trillion, households €727 billion). Of the total financing, €2.9 trillion came from Spanish lenders and €1.2 trillion from foreign lenders, while banks provided €2.09 trillion of the credit.