Theprivate sector debt stood at 131.2% of GDPin the third quarter of 2019, which means that it presentsfor the first time since 2003 a level below 133%which establishes the European macroeconomic imbalances procedure.
Specifically, private sector indebtedness, in consolidated terms, continued its correction last year, andaccumulates a fall of 74 GDP points from the maximum reached in mid 2010, standing at 131.2% of GDP in the third quarter of 2019. With this, the private sector debt figure is, for the first time since 2003, below the 133% threshold established by the European Imbalances Procedure Macroeconomic
According to the latest data published by the Bank of Spain,the bank debt of Spanish families reached 703,706 million eurosIn December 2019, 0.2% less than the previous year, In recent months the debt of Spanish households has been stabilized, and has even been decreasing, to pre-crisis levels due to the Gradual reduction of loans, falling interest rates and lower credit. Of the 703,706 million euros of family debt in 2019, 70% (518,059 million) corresponded tomortgage credits.
Conversely,The debt of the companies in the whole of 2019 increased by 0.8%compared to the previous year, reaching 892,830 million euros, which contrasts with the decline in corporate indebtedness in both 2017 and 2018.
On the other hand, in September 2019, foreign financing capacity represented, in cumulative terms of four quarters, a figure equivalent to 2.1% of GDP, slightly lower than in the same period of 2018 (2.5% of the GDP), which allows to continue reducing the balance of the net international investment position.