Indebtedness went up to 723.1bn in November

  • ECO News
  • 22 January 2019

Indebtedness increased by €1.6bn in November. The reason behind this was the worsening of the public sector's debt levels that month.

The indebtedness level of the Portuguese economy worsened in the month of November. It went over €723bn that month, which translates to an increase of about €1.6bn in comparison to the previous month. This happened mostly due to an increase in the public sector’s debt pile, according to the data released by the Bank of Portugal (BdP).

In total, government, corporate and household debt last November stood at €723.1bn, accounting for a €1.6bn monthly increase.

This upward trend has been witnessed for five months, and it continues aggravating, with November’s values being the heaviest since April 2018 (by then, indebtedness stood at €724.5bn).