Portugal’s total debt reaches new record of 727Bn€

The Portuguese economy has reached a total debt of 727Bn€ in April this year, the Bank of Portugal revealed. It is the fourth consecutive increase and puts the debt at a record level.

At the end of the first trimester of the year, the indebtment of the financial sector stood at 724.4Bn€, the equivalent to 356.8% of the GDP.

The total indebtment registered in April pushes the indicator to its maximum value. The last record was registered a year ago, in April 2018, when the total debt reached 725.5Bn€.

This indicator includes the indebtment of public and private companies as well as of individuals. The financial sector’s debt is not included in this indicator.

The private sector is responsible for the biggest part of the indebtment of the economy, the equivalent to 55% of the Portuguese economy’s total debt. The Bank of Portugal revealed that the private sector owes 400.9Bn€, while the public sector owes 326.1Bn€.