Portugal’s public debt rises to 223.27 billion euros in first half

22 August 2014

Portugal’s public debt rose to 134 percent of gross domestic product (GDP) at the end of the first half of the year or 223.27 billion, according to the Bank of Portugal’s Statistical Bulletin, published Thursday in Lisbon.

At the end of May, the month before the publication of the Statistical Bulletin, Portuguese public debt was 132.4 percent of GDP or 220.684 billion euros.

General government borrowing has been on the rise since April, a reflection of the European Union’s new statistical rules, under which the State must register the deficits of bankrupt firms when they receive government loans.

The country’s external accounts at the end of June showed a cumulative deficit of 39 million euros whilst in the same period of 2013 the balance was 1.734 billion euros.

Until the end of May the external accounts had a surplus of 42 million euros, already well below the values ​​recorded in the same period of 2013 and lower by 200 million euros against April of this year.

At the end of the first half of 2014 Portugal’s current account registered a deficit of 1.342 billion euros. A year earlier the deficit was 46 million euros. (macauhub/PT)