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2024-02-01 at 12h45

Public debt drops below 100% in 2023

Public debt was below 100% of GDP, according to the data disclosed by the Bank of Portugal

Portuguese public debt dropped to 98.7% of GDP in 2023, according to the data disclosed on Thursday (01 February) by the Bank of Portugal. It is the first time that the debt has been below 100% of GDP since 2009. 

According to the statistics note by the Bank of Portugal, last year, public debt was cut by 9.4 billion euros (to 263 billion) when compared to 2022, a cut that in absolute terms has happened for the second time in democratic times.