Household, corporate and state debt rises to 893 billion in August

In August, the total debt of households, businesses, and the state in Portugal rose to €892.8 billion, an increase of €3.6 billion from July, according to the Bank of Portugal. Public sector debt increased by €2.6 billion, reaching €388.7 billion, while private sector debt rose by €100 million to €504.1 billion. The rise in public debt was mainly due to increased deposits by public administrations and private investments in savings certificates. Private household debt grew by €1.3 billion, largely driven by housing loans, while private business debt decreased by €300 million. Year-on-year, household debt rose by 9.7% and private business debt by 4.4%.