The Bank of Portugal released updated statistics on non-financial sector indebtedness for February 2025, showing a EUR 1.2bn month-on-month increase to EUR 820.5bn. Private sector indebtedness rose by EUR 1.1bn, while the public sector was broadly unchanged; year on year, private corporations’ debt increased 0.5% and households’ debt grew 4.5%. Total indebtedness comprised EUR 457.4bn for the private sector (private corporations and households) and EUR 363.1bn for the public sector (general government and public corporations). Households’ debt increased by EUR 0.8bn, mainly with banks via mortgage lending, while private corporations’ debt rose by EUR 0.3bn, driven by higher borrowing from the financial sector (+EUR 0.8bn) partly offset by a reduction in external debt (-EUR 0.5bn). Public sector indebtedness increased versus the rest of the world (+EUR 2.5bn) due to non-residents’ purchases of Portuguese public debt securities and versus households (+EUR 0.5bn) mainly through subscriptions of savings certificates, while falling versus general government (-EUR 3.0bn), reflecting lower Treasury deposit liabilities; the release also notes data revisions back to January 2022. The next update is scheduled for 23 May 2025.
Bank of Portugal 2025-04-23
Bank of Portugal publishes February 2025 debt statistics showing non-financial sector indebtedness up EUR 1.2bn to EUR 820.5bn
The Bank of Portugal reported a EUR 1.2bn increase in non-financial sector indebtedness for February 2025, totaling EUR 820.5bn. Private sector debt rose by EUR 1.1bn, with households' debt increasing by EUR 0.8bn primarily through mortgage lending. Public sector indebtedness saw a rise in non-residents' purchases of public debt securities, despite a decrease in Treasury deposit liabilities.