Debt on the rise to record levels – 130.6%

Page created: Thursday, 19 November 2015 14:42 GMT

BT 3 months  Debt  Debt Issuance

The Portuguese public administration debt went back up again, to 130.6% of Gross Domestic Product (GDP) in September, even higher than the peak at the end of 2014 when it reached 130.2%, the Bank of Portugal said on Thursday.

The central bank said the debt hit €231.9 billion in September.

The out-going government’s programme said it intended to reduce public debt from the 130.2% seen at the end of last year to 125.2% at the end of this year, a more optimistic outlook than international creditors.

The International Monetary Fund (IMF) anticipates that Portugal will reach the end of this year with public debt of 127.8% of GDP, while the European Commission (EC) reckons it is more likely going to be 128.2%.