Public debt down in November but still above 251 billion euros

  • ECO News
  • 2 January 2020

The Bank of Portugal published this Thursday new data on public debt developments. In November, public debt shrank for the second month after the May peak.

The public debt fell in November for the second month in a row but remains above the 251 billion euros barrier, according to data published this Thursday by the Bank of Portugal.

In November, public debt stood at 251.1 billion euros, after October’s figure of 251.4 billion euros, benefiting from early payment to European creditors. Thus, the reduction was only 251 million euros.

Until September, the public debt ratio as a percentage of GDP stood at 120.5%. This ratio was revised downwards slightly from before 120.6% of GDP.

In the State budget for 2020, delivered to Parliament on December 16th, the government estimates that the public debt ratio closed the year 2019 at 118.9% of GDP, compared to 122.2% of GDP in 2018.