Public indebtedness in February €255B, up €3B YoY – Bank of Portugal
According to the Bank of Portugal, the country's public indebtedness in February stood at 255.369 billion euros.
Portugal’s public indebtedness in February stood at 255.369 billion euros, or 3 billion euros more than a year earlier, according to figures released on Wednesday by the Bank of Portugal.
The increase, the institution notes, was due mainly to an increase in outstanding debt securities (2.700 billion euros) but there was also an increase in deposit liabilities (400 million euros), “mainly … savings certificates”.
Assets in general government deposits increased by 3.300 billion euros in the period, so that public indebtedness net of such deposits was down €300 million on January, at 234.7 billion euros.
Portugal’s debt management agency, the IGCP, on Tuesday announced that it would increase by 250 million euros its target for each auction of medium- and long-term debt this year, in an adjustment of its issuance programme to respond to the increase in funding needed due to the Covid-19 pandemic.
The new coronavirus responsible for the Covid-19 pandemic has so far infected more than 791,000 people worldwide, of whom more than 38,000 have died.
Several countries have adopted exceptional measures, including quarantine rules and border closures, with a significant impact on economic activity.
