Portugal: Public debt rises in February – central bank

Portugal’s non-financial sector indebtedness went up by €1.7 billion in February 2019, compared to January, and stood at €723 billion, the country’s central bank revealed on Tuesday.

“This growth was due to an increase of €0.9 billion in public sector indebtedness and €0.8 billion in private sector indebtedness”, according to the Bank of Portugal statistical bulletin.

Out of the €723 billion of non-financial sector indebtedness, €322.4 billion referred to the public sector and €400.6 billion to the private sector.

“The increase in public sector indebtedness was chiefly due to a rise in financing from abroad of €1.1 billion, which was partly offset by a decrease in financing granted by corporations and the general government”, the bank explained.

In the private sector, there was, essentially, an increase in corporate indebtedness vis-à-vis non-residents and the financial sector of €0.6 billion and €0.2 billion respectively.