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Portugal's public debt higher than expected at end of 2014

Xinhua, February 23, 2015 Adjust font size:

Portugal's public debt stood at 128.7 percent of GDP at the end of 2014, higher than the government's forecast last October, the Bank of Portugal revealed on Monday.

According to the Bank of Portugal's February statistical bulletin, Portugal's debt, under the Treaty of Maastricht, dropped from 131.4 percent of GDP in the third quarter last year to 128.7 percent in the last quarter of 2014.

Portugal signed a 78-billion-euro bailout program in May 2011 with the troika - the European Commission, the International Monetary Fund and the European Central Bank - when it was on the verge of bankruptcy, and successfully exited that program in May last year.

The Portuguese government expects the country's public debt to be reduced to 123.7 percent of GDP in 2015 while the European Commission forecast it would go down to 124.5 percent. Enditem