727 billion euros: debt within Portuguese economy “increases for fourth consecutive month”

In a new note issued on Wednesday, the Bank of Portugal reveals that debt within the Portuguese economy has increased yet again – this time to 727 billion euros.

It’s ‘a new record’, say financial papers.

The eye-popping tally relates to debt within the non-financial sector (meaning, not including bank debts).

Of the total, just over 400 billion comes from the private sector, with 326.1 billion from the public sector.

Explain reports, the note refers to figures to the end of April this year – “meaning that debt, in absolute terms, has been increasing since December 2018”.

As a percentage of GDP, the debt in the economy represented 355.9% in March (the last month analysed by the bank regulator) – and this provides some ‘cheer’ in that the totals for the same period in 2018 reached 367.5%.