Public debt falls to 88.4% of GDP in the 3rd quarter, the lowest value since 2009

Public debt in Portugal decreased to 88.4% of GDP in Q3 2023, the lowest since 2009, according to the Bank of Portugal. The total public debt reached €284.882 billion, down 4.2 percentage points from the previous quarter. This decline reflects a reduction in loans and an increase in public administration deposits. Year-on-year, public debt fell by €9.774 billion. The monthly variation was influenced by a scheduled repayment to the European Financial Stability Mechanism and increased investments in savings certificates by individuals. The net public debt, after accounting for deposits, decreased to €257.031 billion, despite a slight annual increase.