Nearly half of Portuguese in debt

… but indebtedness falling

Bank of Portugal, which reports on debt

CNN Portugal reports that according to the results of the latest report published by the Bank of Portugal, the percentage of families with debt increases with age up to the age group 35-44 years and decreases in the older age groups.

According to data from the bank, household indebtedness is equivalent to 83.7% of their disposable income at the end of the second quarter of this year. Despite being high, these values ​​are well below those recorded in the period from 2007 to 2013, when the household indebtedness ratio was above 110% of disposable income.

Debt now likely to rise

The decline in interest rates since 2013 contributed greatly to this fall in household indebtedness. However, this trend has changed a lot in the last year, with the aggressive monetary policy of the European Central Bank which, in less than six months, raised the rate interest rate of the euro from 0% to the current 2% and thus caused an increase in Euribor rates (which serve as a reference for credit and mortgages) to close to 3%, when less than a year ago it
was quoted at negative values.

Thanks to Peter A for the link. leaves out Madeira

Jaime sent in a link to the list of their top twelve places to celebrate the New Year – unfortunately, Madeira was notable by its absence!

COVID-19 in Madeira: updates can be found in an earlier post

All the incidental from Madeira – up to 60 reports per – is being picked up automatically, translated, and posted on our sister website, madeiraislandnews, no matter how trivial:

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