Portugal’s public debt reaches 224 billion euros in 2nd quarter

24 October 2014

Portugal’s public debt stood at 129.4 percent of Gross Domestic Product (GDP) in the second quarter of 2014 or 224.129 billion euros, according to figures issued Thursday by Eurostat, based on the new European System of Accounts (ESA 2010).

In the second quarter Italy had the largest public debt by percentage of GDP (133.8 percent), which was followed Portugal, and Ireland with debt equivalent to 116.7 percent of GDP.

Portugal experienced the second-largest drop (2.2 percentage points) in public debt as a percentage of GDP from the first to the second quarter of this year, after Ireland (5.2 percentage points).

The macroeconomic scenario outlined by the government in the proposed State Budget for 2015 outlines that public debt will decrease from 127.2 percent to 123.7 percent of GDP. (macauhub/PT)