The Bank of Portugal released updated public debt statistics through December 2024, reporting Maastricht public debt of EUR 270.7 billion at end-2024, up EUR 8.8 billion from end-2023, while the debt-to-GDP ratio fell to 95.3% from 97.9%. In December 2024, the debt stock increased by EUR 1.5 billion compared with the previous month. The annual increase was driven mainly by higher debt securities (+EUR 7.5 billion), particularly short-term instruments (+EUR 5.9 billion), and loans (+EUR 1.4 billion), while deposit liabilities fell by EUR 0.1 billion due largely to a decline in Treasury certificates (-EUR 1.3 billion) partly offset by growth in savings certificates (+EUR 0.7 billion). Public administrations’ deposit assets rose by EUR 1.9 billion in 2024, taking debt net of those deposits to EUR 257.3 billion (+EUR 6.9 billion). The December increase reflected higher loans (+EUR 1.1 billion), linked to the receipt of a EUR 1.3 billion tranche under the Recovery and Resilience Plan, and additional savings certificates issuance (+EUR 0.4 billion). The next update is scheduled for 3 March 2025.
Bank of Portugal 2025-02-03
Bank of Portugal publishes updated public debt statistics showing 2024 debt at EUR 270.7 billion and 95.3% of GDP
The Bank of Portugal reported Maastricht public debt at EUR 270.7 billion at end-2024, an increase of EUR 8.8 billion from end-2023, with the debt-to-GDP ratio decreasing to 95.3% from 97.9%. The annual rise was driven by higher debt securities and loans, while deposit liabilities decreased. Public administrations’ deposit assets increased by EUR 1.9 billion, bringing net debt to EUR 257.3 billion.