Public debt climbs to €274.8Bn

Portugal’s public debt as measured by the Maastricht debt criteria which deems that a country’s debt should not exceed 60% of its GDP, rose €2.8Bn to €274.8Bn in February according to data from the Bank of Portugal.

The increase, which was the highest since June 2021, was the same as in January. “This increase essentially reflected public debt issues of €2.5Bn”, said the BoP which is led by Mário Centeno.
The IGCP which manages Portugal’s public debt raised finance on the international markets for €1.250Bn after issuing a long term bond in February. This was followed by an auction of short term bonds whereby Portugal managed to raise €1.250Bn at negative interest.
The Bank of Portugal also adds that public administration deposits providing a financial buffer (money set aside for rainy day) grew by €1.8Bn. “Deducting these deposits, the public debt grew €1.Bn to €254.1Bn.”