Lisbon, July 20 (Lusa) – Indebtedness outside the financial sector in Portugal increased further in May to €724.4 billion, according to the Bank of Portugal, continuing the upward trend since the start of this year.
Total indebtedness in the sector was up €1.777 billion on the month and €8.463 billion on May of last year, the information released by the central bank on Thursday shows.
Of the latest figure, the bulk is accounted for by the private sector, with €408.5 billion, up some €1 billion from April.
The public sector (public administration and public enterprises) accounted for €315.9 billion, up €700 million on the month.
According to the Bank of Portugal, the latter increase was mainly due to the “increase in financing operations among entities of the central administration”, but this was “partially offset by the reduction in financing obtained from the non-resident sector.”
As to the increase in indebtedness in the private sector, it said that this “reflects the increase in the external indebtedness of private companies and the decrease in the indebtedness of these companies and of individuals to the resident financial sector.”
IM/ARO // ARO.
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