Weekly Update 15th November 2019

Portuguese government debt increases to over €272 billion

​​​​​​​Portugal’s government debt increased in January to over €272.4 billion – €2.8 billion above December 2021 and the highest value since August, the Banco de Portugal (BdP) said today.

In year-on-year terms, compared to January 2021, public debt (which stood at €272.4 billion in January of this year) has increased by €2.568 billion.

According to information released by the central bank, the increase in January compared to December “essentially reflected debt securities issues worth €3.1 billion”.

Meanwhile, general government deposits rose by €3.2 billion, so after deducting these deposits, public debt fell by €300 million, to €253.6 billion.

At the end of 2021, government debt fell to 127.5% of Gross Domestic Product (GDP), a reduction of 7.7 percentage points compared to 2020, BdP said about a month ago.

According to the information released by the central bank, at the end of last year, government debt totalled €269.6 billion, €900 million less than at the end of 2020.