Portugal’s public debt rises €3 billion to new all-time high

Portugal’s public debt, in Maastricht terms, increased by €3 billion in April to a total of €279 billion, according to data released Wednesday by the Bank of Portugal (BoP). This is the highest value ever.

“Maastricht public debt increased by €3.0 billion in April 2022, to €279.0 billion,” the central bank announces, explaining that “this increase mainly reflected debt securities issuances (€3.5 billion), mainly long-term debt securities (€2.3 billion).”

On the other hand, “there was a partial repayment of loans from the European Financial Stabilisation Mechanism (EFSM) (€0.5 billion)”, which contributed to a smaller rise in public debt in April. This is a normal repayment that was already foreseen in the schedule agreed between the EFSM and the Portuguese State.