Public Debt-to-GDP ratio in H1 2017 stood at 132.4%


Page created: Friday, 15 September 2017 16:56 GMT | Updated: Monday, 18 September 2017 17:39 GMT

Debt  Deficit  IGCP   INE; Portugal  Public Debt   Treasury bonds

Primary surplus until July increased by 1 376.9 million euros compared with the same period of 2016

The General Government deficit stood at 3 762.7 million euros until July, which represents an improvement of 1 153.1 million euros compared to the same period of 2016. The Portuguese State direct debt decreased by 0.2% in July. The public debt on a Maastricht perspective, amounted to 249 084 million euros in the second quarter of 2017, equivalent to 132.4% of GDP, a rise of 1.9 pp compared to the previous quarter. The Government’s goal is to reduce to 127.9% the public debt-to-GDP ratio at the end of 2017.

According to the budget execution until July 2017, the General Government deficit on a public accounts perspective stood at 3 762.7 million euros, which is 1 153.1 million euros lower than the deficit of 4 915.8 million euros recorded in the same period of 2016. This improvement resulted from the increase of 3.2% in revenue being higher than the 0.5% increase in expenditure. The primary balance exhibited a surplus of 1 725.9 million euros, which is 1 376.9 million euros higher than the figures for the same period of 2016.

  • As reported by the Portuguese Treasury and Debt Management Agency (IGCP), the Portuguese State direct debt stood at 244 220 million euros at the end of July 2017, which represents a decrease of 0.2% from the previous month, and 3.5% year-on-year.

    The IGCP, on 30 August, repurchased 1 735.7 million euros of Treasury Bonds maturing in the next three years, having offered in exchange a new five-year debt. With this bond swap, the IGCP was able to postpone 426.7 million euros in debt that was due to be repaid in 2018. The IGCP has also postponed to 2022, 401 million and 908 million euros in bonds maturing in 2019 and 2020, respectively.

    The State obtained the lowest yields ever recorded on the Treasury Bills auction of 3-month and 11-month maturity, achieving a new minimum over the last auction.  A trend that has been observed in the auctions carried out in recent  months.  The  IGCP  auctioned 1 000 million euros in Treasury Bills, with 750 million euros maturing at 11 months with a yield of -0.291%, lower than the previous yield of -0.264% achieved in June, and 250 million euros maturing in three months with a yield of -0.348%, lower than the previous minimum of -0.337%.

Wednesday, 30 August 2017 13:49

Lisbon, Aug. 30 (Lusa) – The Portuguese Treasury and Debt Management Agency (IGCP) said on Wednesday it had exchanged today €1.735 billion of debt that was to mature between 2018 and 2020 for debt due in 2022, keeping the amou...

Wednesday, 16 August 2017 14:56

Lisbon, Aug. 16 (Lusa) - Portugal auctioned €1 billion in three- and 11-month treasury bills on Wednesday at average yields that were even more negative than in previous actions. The Portuguese Treasury and Debt Management Ag...

ECO News- Portuguese Economy

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Mário Centeno dismisses the possibility of a debt restructuring. The Finance minister stated, in an interview to El País, that the right path is to "tame the market"....