In the first quarter of the year, the public debt ratio stood at 91% of GDP, having risen by 1.9 percentage points.

The Bank of Portugal (BdP) notes that, in June, public debt totalled €293.9 billion, an increase of €5.2 billion compared to May.

This change “reflected an increase in deposit liabilities (+€0.5 billion), particularly in savings certificates (+€0.6 billion), and in debt securities (+€4.7 billion), mainly long-term ones,” according to the central bank.

In the month under review, general government deposit assets totalled €31.4 billion, up €6.6 billion from May.

“After deducting these deposits, public debt decreased by €1.3 billion to €262.5 billion,” the BdP noted.