Public debt increases to 114.0% of GDP in the 1st quarter

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The public debt in the Maastricht view, the one that counts for Brussels, increased to 114.0% of the Gross Domestic Product (GDP) in the first quarter of this year, 0.1 percentage points more than at the end of 2022, advanced today the BdP.

According to the Bank of Portugal (BdP), in March 2023 public debt totaled 279,297 million euros, 340 million euros more than in February and 6,711 million euros more than in December of last year.

Public debt increases to 114.0% of GDP in the 1st quarter

According to the central bank, this evolution reflected the growth in deposit liabilities (3,000 million euros), with the issuance of savings certificates amounting to 3,500 million euros.

In the opposite direction, net amortizations of debt securities (-2,700 million euros) were observed.

In the month under review, general government deposits increased by about 2.5 billion euros. Deducted from deposits, public debt decreased by 2.1 billion euros, to 255.962 million euros.

The public debt-to-GDP ratio stood at 113.9% in 2022, 11.5 percentage points lower than in 2021 and the lowest since the second quarter of 2011 (112.7%).

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