The International Monetary Fund (IMF) expects Portugal's public debt to fall to close to 103% of GDP in 2024, a year later than forecast in October, according to the 'Fiscal Monitor' released on Wednesday
In its report on budgetary forecasts, the IMF predicts that the Portuguese public debt will remain at 119.5% of the Gross Domestic Product (GDP) in 2019, while the Government expects a reduction of the debt-to-GDP ratio to 118.5% this year .
As for projections up to 2024, the Fund expects Portuguese public debt to decline by 18.7 percentage points between 2018 and 2024, from 121.4% to 102.7%.
Today's forecasts represent a slight deterioration compared to October projections, when the IMF anticipated a reduction of 22.9 percentage points between 2017 and 2023. In the Stability Program 2018-2022, the Government estimated a reduction of the public debt of 23, 6 percentage points of GDP, but in five years (up to 102% in 2022).