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Public debt rises by 1.2 billion in February

Public debt rises by 1.2 billion in February

Portugal’s public debt stood at €249.3 billion in February increasing by €1.2 billion from the end of January, the country’s central bank, the BdP, announced.

This is the value calculated within the Maastricht framework, which concerns the rules established by Brussels regulators, and the Bank of Portugal explains it “was mainly driven by an increase in debt securities issued”.

According to Portugal’s central bank, the assets in public administrations deposits rose €1 billion, so the net public debt of deposits increased €0.2 billion compared to the previous months, totaling €227.7 billion.

In January 2019 the overall public debt amount reached €248 billion – a €3 billion rise comparing to the end of 2018, after the payment of the country’s debt to the International Monetary Fund.

After reaching record figures in October and November, in December the public debt contracted, but over 2018 it increased €2.1 billion compared to 2017.