Portugal’s non-financial sector owed 718 billion euros at the end of 2017

2 March 2018

Portugal’s non-financial sector debt stood at 718.1 billion euros at the end of 2017, of which 311.6 billion was for the public sector and 406.5 billion for the private sector, the Bank of Portugal reported recently.

The sector’s indebtedness compared with the end of 2016 increased by 7.5 billion euros, as a result of an increase of 3.8 billion euros in public sector debts and 3.7 billion euros in the private sector.

At a private sector level, there was an increase in corporate debt of 3.9 billion euros, which was mainly reflected in the increase in external indebtedness, with private individuals reducing the amount of funding obtained from the financial sector.

The Portuguese central bank announced on Thursday that Portugal’s public debt stood at 243.6 billion euros at the end of January, an increase of 1 billion euros compared to the amount recorded in December 2017.

The increase in public debt securities (2.2 billion euros) was partly offset by the early repayment of approximately 800 million euros of loans granted by the International Monetary Fund (IMF) under the Economic and Financial Assistance Programme. (macauhub)