Public debt increases by 1.3 billion in just one month

It’s a new “historic record” and it has taken the level of Portuguese debt to an eye-watering €249.1 billion – the “highest figure yet”.

The news, published by the Bank of Portugal, refers to the situation as per the end of June and means, says noticiasaominuto website, that the government’s “financial pillow” of “around €500 million” is still “insufficient to compensate the global debt increase”.

Much of the increase was due to the government’s earlybird repayment of €1 billion to the IMF- fast-tracked in a bid to avoid crippling interest dues.