Portugal Public Debt Rises to 130%
World Economy

Portugal Public Debt Rises to 130%

Portugal’s public debt rose to 130.5% of gross domestic product last year from 129% in 2015, Bank of Portugal data showed on Tuesday, putting the debt just shy of a record 130.6% registered in 2014, Reuters reported. The year-end debt ratio, which overshot the government’s projection of 127.7%, still showed a retreat from an intra-year high of 133.4% at the end of the third quarter. The central bank said earlier that the nominal gross public debt rose over 4% to €241.1 billion ($253.2 billion) in 2016. Portugal, which exited an international bailout in 2014 after a severe debt crisis, remains, along with Italy, among the most indebted eurozone economies after Greece, which is on its third international lifeline. The socialist government says it managed to cut the budget deficit to no more than 2.1% of GDP last year from 4.4% in 2015, and expects more growth and further reductions in the deficit and debt this year.


Short URL : https://goo.gl/Srrh9u
  1. https://goo.gl/u8hKRk
  • https://goo.gl/Uv4imk
  • https://goo.gl/Fs0Yg3
  • https://goo.gl/qjp1Bk
  • https://goo.gl/xnINxP

You can also read ...

French Foreign Minister Jean-Yves Le Drian addresses CEDRE Conference in Paris on April 6, with Lebanese Prime Minister Saad Hariri on his right.
With the FIFA World Cup over and French victory secured,...
Handout picture shows IMF Managing Director Christine Lagarde on a screen as she speaks  during the G20 meeting taking place in Buenos Aires, on July 21.
The International Monetary Fund warned world economic leaders...
Dubai’s new business licenses in the second quarter of 2018 were down 26% from the same period in 2016.
In Dubai’s posh Jumeirah Beach residence district, luxury...
Australia  Faces Massive Economic Crash
Australia is facing an economic shock akin the global...
Germany Lifts Turkey Sanctions
Germany has lifted economic sanctions on Turkey and relaxed...
IFC to Inject $2 Billion in Egypt’s Private Sector
International Finance Corporation, a member of the World Bank...
According to a survey, 75.3% are facing difficulties in running their businesses this year.
South Korea’s major business lobby said Sunday it will file an...
Algeria Trade Deficit Sharply Down
Algeria’s trade deficit declined by 83.6% to $490 million...

Add new comment

Read our comment policy before posting your viewpoints