Public debt increased by more than EUR 3700 million in May – publico

                 

                         
                     

                 

 
                         

The Portuguese government debt reached 229,204 million euros in May, increasing more than 3,700 million euros compared to the value of the previous month, statistical bulletin shows data published on Tuesday by the Bank of Portugal (BoP).

                     

                          The general government debt, recorded in optical Maastricht, which account for the calculations of the European Commission, is measured as a percentage of GDP each quarter, which means that this number will only be updated with the release of the position debt at the end of June. For now, the reference is the value of March in the debt, then the 225 924 million, equivalent to 129.6% of GDP.

If April was a close retreat 500 million euros to 225 427 million, the public debt rose again, getting already above 229 billion (a month, the increase was 3 777 million). In gross terms, this is the highest value ever recorded in the database of the Bank of Portugal (available from 2007).

Of the total debt, 94 232 million related to loans the overwhelming majority of long-term; the largest share, amounting to 117 448 million, the result of debt (short and long term); the remaining figures relate to amounts in cash and deposits, equivalent to 17 524 million.

Data from the Bank of Portugal shows that the net debt of the central government deposit increased from 527 million euros between April and May , from 208,504 million to 209,031 million.

In May, the month the Treasury repaid in treasury bills to less than 2000 million, the IGCP went to the market to issue bonds valued at billion euros, another 1,500 million in short-term tickets.

The statistics of budget execution released by the Budget Directorate-General, who are not directly comparable with the debt numbers and finance public administration from the perspective of Maastricht, report an increase of about 24% in interest expense and other debt service charges, only in relation to central government in the first five months of the year.

According to the DGO, “the interest expense and burden of direct state debt grew 23.6%, influenced mainly by the behavior of the Treasury Payables (OT) due to issues made in 2014 that gave rise to the payment of interest for February and April 2015.

Furthermore, the increase in the caption ‘Loans PAEF’ [lending program of the troika], associated with the first interest payment on the tenth tranche of the European Financial Stabilisation Mechanism loan (EFSM ) and the interest paid to the IMF as a result of increased premium which entered into force in May 2014 and the depreciation of the euro. “