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Portugal’s public debt is up again – this time from end June to end July by €1.6 billion – but it’s not all bad news, say reports. The “good performance of the economy” has seen its debt ratio relative to GDP reduce. Thus the country is now running with a debt of (only) 125.6% of GDP, as opposed to much higher percentages in the past.
For the record, public debt as of end July was pegged by the Bank of Portugal as €248.2 billion. It’s huge by any perspective, but when it comes to debt relative to GDP, Portugal is still doing better than Italy (133.4% at the first quarter of 2018) and Greece (180%)
