Portuguese government debt trimmed in Q2

Source: Xinhua | 2018-08-23

The ratio of Portuguese public debt to GDP fell significantly in the second quarter of this year, the Bank of Portugal revealed on Wednesday.

The debt-to-GDP ratio stood at 125.8 percent at the end of June, down from 126.4 percent at the end of March.

Public debt thus amounted to 246.6 billion euros (286 billion U.S. dollars), down from the historical high of 250.3 billion euros registered in May.

The reduction is said to primarily be a result of the amortization of 6.6 billion euros worth of 10-year government bonds.

Portugal's economy also grew faster in the second quarter of this year than it did in the first quarter, 0.5 percent versus 0.4 percent.