Public debt breaks new record as it rises to 264,4 billion euros in May

The evolution represents a jump of 2,3 billion euros compared to the previous month. This increase was mainly due to the issues of securities made in May, mainly long-term issues.

Public debt increased to 264.379 million euros in May, a new historic high, reveal data from Banco de Portugal (BdP), published this Wednesday. The evolution represents a jump of 2.333 million euros compared to the previous month, when it had already reached the highest value of the historical series since 1995.

According to the regulator, this increase was mainly due to the 2,3 billion euro bond issues made in May, mainly long-term issues, which stood at 155.447 million euros.

In the fifth of the month of the year, general government deposit assets increased by 0,1 billion euros. "Thus, public debt net of deposits increased by 2,2 billion euros compared to the previous month, totaling 239,2 billion euros", explains the BdP information note.

The increase in public debt is one of the most visible consequences of the pandemic, both in terms of the monthly value and in the ratio to GDP. The Government expects the weight of public debt to reach 134,4% this year, which compares with the 116,2% foreseen in the State Budget for 2020.

(Updated at 11h25)

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