Public administration financing exceeds 3.7 billion until March
The financing of public administrations reached 3,722 million euros up to March, after having been negative in 6,486 million euros in the same period of the previous year, announced today the Banco de Portugal (BdP).
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Economia BdP
According to the central bank, until March, the financing granted to public administrations from abroad was 6.949 billion euros, mostly through the acquisition of debt securities.
Public administrations financed the banks in 2.787 billion euros -- through the reduction of public debt securities and the increase of deposits with the central bank -- and other resident sectors in about 440 million euros.
The BdP also presents an analysis by instrument, which indicates that financing by net bond issues amounted to 4.258 billion euros, while the financing of public administrations through loans deducted from deposits was negative in 536 million euros.
Negative net financing indicates that the net acquisitions of financial assets by public administrations were higher than the issues deducted from the amortization of liabilities, that is, public administrations used part of the funds obtained to finance other sectors of the economy.
The BdP updates the data on the financing of public administrations on June 20.
Read Also: Debt issued by Public Administrations exceeds amortizations (Portuguese version)
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