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Gross debt in Portugal

The government gross debt refers to the total of all sums of money that have to be paid to other countries, communities or institutions. On the other hand not included in the gross debt are the demands of a country to foreign ones.

The gross debt in Portugal in the period from 1998 to 2021 was between 61.7 billion and 318.4 billion USD. The highest level of the last years at 318 billion US Dollar was reached in 2021. The budget deficit in the same year was 7.1 billion USD.

Based on the number of inhabitants, this is in Portugal a debt of 30,916 USD per person. For comparison: The average debt per person in the same year in the European Union was 33,714 USD.


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Gross debt of the last 23 years in billion USD




YearPortugal totalPortugal per capitaEU per capita
199861.68 bn USD6,070 USD14,079 USD
199962.52 bn USD6,118 USD14,032 USD
200064.27 bn USD6,246 USD11,232 USD
200169.77 bn USD6,733 USD11,255 USD
200280.94 bn USD7,768 USD12,258 USD
2003105.58 bn USD10,095 USD15,286 USD
2004127.07 bn USD12,121 USD17,595 USD
2005142.52 bn USD13,569 USD18,327 USD
2006153.81 bn USD14,618 USD18,877 USD
2007174.91 bn USD16,590 USD20,898 USD
2008199.26 bn USD18,873 USD24,086 USD
2009214.82 bn USD20,327 USD25,361 USD
2010238.62 bn USD22,569 USD26,496 USD
2011280.43 bn USD26,562 USD29,231 USD
2012279.01 bn USD26,535 USD28,174 USD
2013297.60 bn USD28,458 USD29,981 USD
2014305.63 bn USD29,385 USD30,648 USD
2015261.56 bn USD25,252 USD25,920 USD
2016271.46 bn USD26,291 USD26,262 USD
2017279.23 bn USD27,109 USD27,025 USD
2018294.38 bn USD28,625 USD28,454 USD
2019279.85 bn USD27,206 USD27,178 USD
2020308.94 bn USD30,003 USD30,798 USD
2021318.42 bn USD30,916 USD33,714 USD


Comparison of gross debt per capita with the European Union in U.S. dollars



      Portugal       European Union


Budget deficit in Portugal

The budget deficit of a country is the result of all its claims and liabilities. This includes incomes and expenses, repayments and building of new debts in other countries, but also domestic positions of the government, such as social insurances, local authorities and communities. It is the financial balance of the economic accounts. In simple terms: If a country at the end of the year has more money, than at at the beginning, it is a surplus - it is less, it is called deficit.

The budget balance in Portugal in the period between 1998 and 2021 varied between -27.14 billion Euro and +276.74 million Euro. In 2021 was reached a balance of -7.07 billion Euro.

In ratio to population, this equals a new indebtedness of 686 Euro per capita in Portugal only in 2021. For comparison, the average debt per capita in the European Union was in the same year at 1,788 Euro.


Budget deficit and surplus in the last 23 years

YearPortugal totalPortugal per capitaEU per capita
1998-3,999.96 M USD-394 USD-398 USD
1999-3,369.53 M USD-330 USD-204 USD
2000-3,842.73 M USD-373 USD112 USD
2001-5,732.20 M USD-553 USD-299 USD
2002-4,498.41 M USD-432 USD-565 USD
2003-5,966.40 M USD-570 USD-840 USD
2004-11,740.80 M USD-1,120 USD-920 USD
2005-12,225.27 M USD-1,164 USD-822 USD
2006-9,033.41 M USD-859 USD-568 USD
2007-7,235.42 M USD-686 USD-360 USD
2008-9,745.67 M USD-923 USD-1,085 USD
2009-24,155.29 M USD-2,286 USD-2,021 USD
2010-27,140.66 M USD-2,567 USD-1,970 USD
2011-18,784.48 M USD-1,779 USD-1,462 USD
2012-13,362.31 M USD-1,271 USD-1,220 USD
2013-11,558.19 M USD-1,105 USD-1,027 USD
2014-16,911.67 M USD-1,626 USD-852 USD
2015-8,870.45 M USD-856 USD-577 USD
2016-3,994.36 M USD-387 USD-423 USD
2017-6,543.45 M USD-635 USD-263 USD
2018-845.71 M USD-82 USD-139 USD
2019276.74 M USD27 USD-197 USD
2020-13,345.69 M USD-1,296 USD-2,313 USD
2021-7,069.12 M USD-686 USD-1,788 USD


(negative numbers = deficit)
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