Portugal’s public debt to GDP ratio lowered to 130.9 pct

23 September 2013

The Bank of Portugal has lowered the country’s public debt to gross domestic product (GDP) ratio to 130.9 percent, or half a percentage point than the figure published in the August Statistics Bulletin.

Despite this downward review by the Bank of Portugal, Portuguese public debt is now far higher than it was estimated to be three months before, when the Bank of Portugal pointed to a debt/GDP ratio of 121.7 percent in March.

The 130.9 percent of GDP figure represents 214.55 billion euros and excluding central government deposits, the debt level drops to 118 percent of GDP or 193.28 billion euros.

The update by the central bank is thought to be related to an update of economic figures, with the National Statistics Institute announcing growth of 1.1 percent in the second quarter against the previous quarter. (macauhub)