Andorra's Public Debt Drops 1.6% to €1.209 Billion in 2025

Public debt across Andorra's public administrations fell by 1.6% in 2025 from the previous year, dropping from €1.228,9 million to €1.209,1 million, or 30.54% of nominal GDP.

The Department of Statistics published the data on Thursday. This ratio represents a decline of 2.5 percentage points from 2024 and 10.1 points below the average for 2020-2024. Government-specific debt stood at 29.4% of nominal GDP, down 2.4 points from 2024 and 9.2 points under the five-year average.

Per capita debt reached €13,577, a 3.8% decrease from 2024 and 11.1% below the 2020-2024 mean.

By maturity, short-term debt dropped 0.7% and long-term debt eased 1.6%. Short-term non-bank debt stood at zero, while short-term bank debt rose 0.7%. Long-term non-bank debt fell 1.4% and long-term bank debt declined 7%. Overall, short-term debt made up 0.5% of the total and long-term 99.5%.

By creditor type, bank debt decreased 6.2% and non-bank debt 1.4%, with bank sources at 4.2% and non-bank at 95.8%.

Residency breakdowns showed national debt at €38.6 million, down 5.4%, all from banks (down 5.47%) with no non-bank component. Foreign debt totaled €1,170.6 million, a 1.5% reduction, including €12 million in bank debt (down 8.7%) and €1,158.6 million non-bank (down 1.4%).

The release also included budget results on a cash and management basis for 2020-2025, providing further insight into fiscal balances and public debt financing.