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Statistical Press Release – Non-financial sector indebtedness – May 2020

Today, Banco de Portugal publishes statistics, in Table A.20 and A.21 of the Statistical Bulletin and in BPstat, on non-financial sector indebtedness (end-of-period positions and annual rates of change, respectively) for May 2020.

End-of-period positions

In May 2020 non-financial sector indebtedness stood at €740.7 billion, of which €333.7 billion referred to the public sector and €407.0 billion to the private sector.

Compared with April 2020, non-financial sector indebtedness increased by €6.3 billion. This was caused by the €3.6 billion raise in public sector indebtedness and by the €2.7 billion increase in private sector indebtedness (Chart 1).

The rise in public sector indebtedness was mainly reflected in the increase of financing granted by the financial sector (€3.2 billion) and the general government (€1.3 billion), partly offset by the reduction of external financing (€1.0 billion) (Chart 2).

Regarding private sector indebtedness, corporations’ indebtedness increased by €2.6 billion, mainly through the increase in financing granted by the financial sector (€2.2 billion). The households’ financing from the financial sector increased by €0.1 billion.

Annual rates of change (1)

In May 2020 the annual rate of change (arc) of private corporations’ total indebtedness was 3.6%, 1.1 percentage points (p.p.) more than the previous month. The annual rate of change of total households’ indebtedness did not change, standing at 0.8%.

Next update: 20 Aug. 2020


(1) Annual rates of change in indebtedness reflect developments in total debt (including loans, debt securities and trade credits) of the non-financial private sector to the other institutional sectors (information on a consolidated basis). Annual rates of change are calculated on the basis of an index built from derived transactions, i.e. changes in end-of-period positions excluding reclassifications, revaluations, exchange rate variations and other changes that do not arise from financial transactions.