Type of ratings: Sub-Sovereign

Rating value: BBB+

Outlook: Stable

License: EthiFinance Ratings


We maintain our credit rating of the Xunta de Galicia of BBB + with a Stable outlook. Galicia is the sixth economy within the regional group in terms of gross domestic product. With a population of 2.7 million inhabitants and a GDP of 59,105 million euros at the end of 2020. The GDP per capita is 21,903 euros at the end of 2019. Despite the impact of the crisis on the Galician economy (-9.4%) and the increase in the unemployment rate (11.6%), the Galician economy evolved favorably in 2021 and 2022, increasing by 5.2% and 3.2% respectively. It also maintains sound public finances, with sustainable debt and deficit levels.


Rating action: Affirmed

Action date: 2023-05-19

Date last rating: 2023-05-19

Date first rating: 2021-01-08


Rating report:


Return to the rating page