Portugal’s Non-Financial Sector Debt Hits Record €762B

Of the €14 billion increase in new debt since the end of 2020, the bulk of it is to Portuguese banks.

Portugal’s non-financial sector debt has hit a record €762.4 billion, according to data from Banco de Portugal cited by Expresso

That’s up from the previous record of €757.5 billion set in May, although the latest figures are only €14.1 billion more than the debt at the end of 2020, according to the publication. 

Of the new total, €350.5 billion is in public sector debt and €412 billion is in the private sector.

Most of the increase in debt, meanwhile, was debt to the Portuguese financial sector, accounting for €4 billion of the increase in public sector debt and €2.2 billion in corporate debt, while debt to international lenders rose by €3 billion in the public sector and €1.8 billion in the corporate sector, Expresso writes.

Individual debt, meanwhile, rose €2 billion from the end of 2020.

Let’s see how this plays out…

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