Public administration funding was negative by 5,308 million euros in May 2023, comparable to funding of 494 million euros in the same period in 2022, the Bank of Portugal (BdP) said on Tuesday.
According to the BdP, “financing of public administrations was -5.3 billion euros, after 0.5 billion euros recorded in the same period in 2022.”
“Negative net financing indicates that public administrations have used part of the funds received to finance other sectors of the economy,” BdP explains.
An analysis by instrument shows that the general government financed banks by €9,092 million, mainly through increased deposits, and financed abroad by €6,262 million, “mainly through securities.”
The families financed the public administration with 10,047 million euros, “mainly through the purchase of savings certificates”, adds BdP.
On instruments, financing from net securities issues and loans less deposits was negative by €5,149 million and €158 million, respectively.
BdP updates General Government Funding data on 24 August.
Author: Portuguese
Source: CM Jornal
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