Non-financial sector debt falls to €806Bn in July
Total debt for the non-financial sector, meaning the public sector, companies and private individuals, fell to 806.6Bn in July, a reduction of 0.4Bn on June according to data from the Bank of Portugal.
From the total registered, €440.6Bn of the debt came from the private sector (down €1.4Bn on June) with company debt falling €1.3Bn and private debt falling €100,000.
In the case of the public sector (public administration and public companies), debt stood at €365Bn in July, €1Bn more than in June.
In like-for-like terms, private and company debt grew 0.4% in July. Public debt stood at 114% of GDP in Q1 of 2023 or €279.2Bn.
Total private debt in Portugal as fallen from peak of 98.4Bn in 2021 because of the pandemic to 80.6Bn by the end of April 2023.
However, the total indebtedness of the Portuguese economy reached a record of €804.4Bn in May this year, having risen for the fifth consecutive month, July representing the first month that the upward trend in debt actually fell.