The amount is the highest in nominal terms since at least 2007, according to the bank.

According to the central bank, in its statistical note, the increase in debt “essentially [was] contributed [by] the increase in treasury certificates and loans."

Compared with May 2018, total public indebtedness was €1.972 billion greater.

As for the debt net of deposits held by government departments, this was €229.379 billion in May, down €549 million from April. Against May of 2018 there was an increase of €2.825 billion.

As a percentage of gross domestic product, Portugal’s reported public debt for Maastricht purposes in March of this year stood at 123%, up from 121.5% at end-year.