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Statistical Press Release – Non-financial sector indebtedness – September 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 September 2020.

End-of-period positions

In September 2020 non-financial sector indebtedness stood at €738.0 billion, of which €335.3 billion referred to the public sector and €402.7 billion to the private sector.

Compared with August 2020, non-financial sector indebtedness increased by €1.5 billion. This was caused by the €0.9 billion raise in public sector indebtedness and by the €0.6 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 general government (€0.9 billion) and the financial sector (€0.9 billion), partly offset by the reduction of financing granted by the external sector (€1.0 billion) (Chart 2).

The growth in the private sector indebtedness resulted from an increase of €0.3 billion in the households’ indebtedness granted by the financial sector and €0.3 billion in the corporations’ indebtedness granted by the external sector.

Annual rates of change (1)

In September 2020 the annual rate of change (arc) of private corporations’ total indebtedness was 2.0%, 0.4 percentage points (p.p.) less than the previous month. The annual rate of change of total households’ indebtedness increased by 0.1 p.p., standing at 0.9%.

Next update: 23 Dec. 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.