Portugal has already withdrawn from the European public debt platform, Eurostat – The Economy confirms

Portugal has already withdrawn from the European public debt platform, Eurostat confirms

With the third largest quarterly reduction in the debt ratio, Portuguese public debt already fell behind Spain and France in the second quarter.

The Portuguese public debt ratio again experienced one of the largest reductions at the European level in the second quarter of the year, leaving the podium of the most indebted and moving to fifth place, Eurostat confirms this Monday.

The weight of the Portuguese public debt, in already calculated accounts, was 110.1% of GDP, now Greece (166.5% of GDP), Italy (142.4% of GDP), France (111.9% of GDP) and Spain (111.2% of GDP).

Belgium is still behind Portugal (106% of GDP), but is expected to end the year with a higher public debt ratio.

Fernando Medina’s Ministry of Finance, remember, the level of national public debt will decrease to 103% of GDP this year, and will be less than 100% of GDP (98.9% of GDP) by the end of 2024.

Although the nominal debt of public administrations continues to increase (about 280 billion euros in the second quarter), the evolution of the economy has allowed the public debt ratio to decrease.

In the second quarter, Portugal had the third largest reduction at the European level (2.2 percentage points), following Latvia (3.5 percentage points) and Croatia (2.6 percentage points).

Compared to the second quarter of last year, the Portuguese public debt ratio fell by 11.8 percentage points, the second largest drop in the EU behind Greece (16.6 percentage points).

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Eurostat data this Monday showed that in the second quarter, Portugal recorded the ninth largest public surplus out of 27, equal to 1% of GDP (689 million euros).

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