Portugal's net foreign debt rose to â¬183,1 billion in June
18 August 2018
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Portugal 's net foreign debt was at â¬183.1 billion in June, representing 93.4% of the gross domestic product (GDP), 0.9 percentage points more than last year's final months, the Bank of Portugal (BdP) announced on Tuesday.
These figures are a result of Portugalâs capital investment position, excluding capital tools, gold bullion and financial derivatives. In the first half of the year, the figure was -â¬209.6 billion, 1.1 percentage points worse than the end of 2017.
âThe variation was due to the combined negative impact of the price variations (-â¬0.6 billion), transactions (-â¬1.3 billion) and exchange variations (-â¬1.2 billion)â, Bdp explains.
Concerning the price variations, the negative impact reflected the valuation of shares of companies in Portugal held by non-residents.
When it comes to exchange variations, there was a reduction in the value of external assets held by residents from the depreciation of the Angolan kwanza, Brazilian real and Venezuelan bolivar.
On the other hand, there was a rise in Portugalâs liabilities against overseas because of the appreciation of the US dollar and the yen.
Net transactions had a negative contribution on Portugalâs net asset against overseas by â¬1.334M.
18 August 2018
Read this week's issue online exactly as it appears in print.
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