Public debt increased by 2.1 billion in 2018 to 244.9 billion – The Economic Newspaper

Public debt increased by 2.1 billion in 2018 to 244.9 billion - The Economic Newspaper


Portuguese public debt increased by 2.1 billion euros between the end of 2017 and the end of 2018, standing at 244.9 billion euros, the Bank of Portugal announced Friday.

In November, the figure reached record figures of 251,476 million euros, which translates into a decrease of 6.5 million euros at the end of the year. By Maastricht standards, this is the biggest fall in public debt, from one month to the next, since 2015.

Although the Government made an advance payment to the International Monetary Fund (IMF) of 5.5 billion pesos in December, Portugal ended the year with a higher amount of government debt than it had in 2017.

The factors that contributed to this increase were the increase in debt securities of 7.2 billion euros and treasury certificates of 1.4 billion euros, according to the bank. "These changes were partially offset by the early repayment of the remainder of the loans granted by the International Monetary Fund under the Economic and Financial Assistance Program in the amount of 5.5 billion euros," writes the bank note led by Carlos Costa.

"Assets held by general government deposits decreased by 3.2 billion euros in 2018, so net government debt increased by 5.3 billion euros over the previous year, totaling 228.3 billion euros of euros, "concludes the document.



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