Portugal’s debt soars to 137.1% of GDP in Q1

 In Bonds and Gilts, Economy, News

Portugal’s public debt rose €1.2Bn in March to €275.3Bn to a new debt to GDP ratio record of 137.1% in the first quarter of 2021.

This was according to statistics released by the Bank of Portugal today. (Monday, 3 May)
In February, Portugal’s public debt had achieved a new record of €274.1Bn, having increased by €4.2Bn as a result of a syndicated sovereign bond issue of €3Bn. The end of the quarter GDP to debt ratio had hit a new record of 137.1%.
In March 2021, Portugal’s public debt was €275.3Bn, €1.2Bn more than for the previous month, the central bank revealed, specifying “this increase in public debt essentially reflected the government’s syndicated sovereign bond issues.”