According to the bank of Portugal, of the May total, €328.5 billion related to public sector companies and €401.1 billion to the private sector.
In a statement, the bank said that the rise “resulted from the increase of 2.5 billion in the indebtedness of the public sector and of €900 million in the indebtedness of the private sector.”


In relation to the increase in public sector indebtedness, the Bank of Portugal states that “it resulted, above all, from the increase in indebtedness in relation to public administrations and the financial sector, which was partially offset by the decrease in indebtedness of the non-residential sector.”


In the private sector, meanwhile, companies’ indebtedness to the financial sector swelled by €500 million and to foreign creditors by €300 million, while the amount owed by individuals to the financial sector increased by €100 million.