Non-financial sector in Portugal owes 697.4 billion euros at end of 2015

24 February 2016

The indebtedness of the Portuguese non-financial sector stood at 697.4 billion euros at the end of 2015, which represents an annual drop of 3.3 billion euros, the Bank of Portugal said in a statement.

The reduction was due to the decrease in the debt of private companies (-4.9 billion euros) and individuals (-3.9 billion euros) and an increase in indebtedness of the non-financial public sector (+5.5 billion euros).

The central bank also said that the trend of debt reduction had been observable since 2011, for individuals, and from

2013, for private enterprises, and the non-financial public sector maintained the debt growth trajectory that has been observed since the series began in 2007.

As a percentage of GDP, Portugal’s public debt stood at 128.9 percent at the end of last year, a slight decline compared to 130.5 percent in the previous quarter and 130.2 percent in 2014, according to the Bank of Portugal.

State debt stood at 231 billion euros last December, according to the statistical bulletin of the banking supervisor. (macauhub/PT)