The Bank of Portugal published updated statistics on non-financial sector indebtedness through September 2025, showing a EUR 9.4 billion monthly rise to EUR 866.4 billion. Public sector indebtedness increased by EUR 6.7 billion, driven mainly by a EUR 6.0 billion rise in liabilities to the rest of the world linked to non-resident investment in Portuguese government debt securities. Public sector indebtedness also rose versus general government (EUR 0.6 billion) and households (EUR 0.3 billion), while falling versus the financial sector (EUR 0.3 billion), mainly reflecting disinvestment in short-term debt securities. Private sector indebtedness increased by EUR 2.6 billion, with household debt up EUR 1.3 billion largely to banks via housing loans (EUR 1.0 billion) and private corporate debt up EUR 1.4 billion mainly due to higher financing from the financial sector (EUR 0.8 billion) and from abroad (EUR 0.6 billion). On an annual basis, private corporate indebtedness rose 2.5% year on year, while household indebtedness increased 7.8% year on year, a new series high since December 2008. The release incorporates revisions back to June 2023 in line with the Bank of Portugal’s statistical revision policy. The next update is scheduled for 22 December 2025.
Bank of Portugal 2025-11-21
Bank of Portugal publishes September 2025 non-financial sector indebtedness data showing a EUR 9.4 billion monthly increase
The Bank of Portugal reported a EUR 9.4 billion increase in non-financial sector indebtedness, reaching EUR 866.4 billion as of September 2025. Public sector debt rose by EUR 6.7 billion, mainly due to non-resident investment in government debt securities, while private sector debt increased by EUR 2.6 billion, driven by household and corporate borrowing. Household indebtedness saw a 7.8% year-on-year rise, the highest since December 2008.