Public debt falls shortly in September to €249bn

  • ECO News
  • 2 November 2018

The public debt has decreased by €300m in September, according to the Bank of Portugal (BdP), standing now at €249bn.

The public debt has decreased by €300m in September, according to the Bank of Portugal (BdP), standing now at €249bn.

“In September 2018, government debt stood at €249bn, having fallen by €300m in comparison to the previous month of August”, the banking regulator announced this Friday.

“This decrease can be explained by the decrease of €0.6m in government bonds, and the increase in treasury bills, accompanied by the increase in deposits in public administration”, the report from the BdP showed.

The data shows that the deposits in the public administration increased by €900m in the month of September, “making net public debt register a decrease of €1.2bn in comparison to the previous month, reaching a total of €223.7m”.

In June, the government debt hit €246.8m, with the debt yield reaching 124.9% of GDP.

The government is expecting the ratio to lower to 121.2% of GDP by the end of this year, with even better prospects later on, with estimates of debt getting to 118.5% of GDP in 2019.