At the end of the 4th quarter of 2023, the Regional Public Administration (PRA) debt decreased by around €167.4 million (-3.2%) compared to the end of the previous quarter.
Thus, and according to the information published by the Regional Directorate of Statistics (DRE), it stood at 5,002.3 ME. In addition, according to the same data, there is a decrease of 32.9 million euros (-0.7%) compared to the same period of the previous year.
“The reduction compared to the previous quarter is explained by the lag between the dates of refinancing and capital amortisations that occurred during 2023,” explains DREM.
Weight of loans decreased
Analysing the evolution of the composition of gross debt by financial instrument, it can be seen that in the 4th quarter of 2023 compared to the same quarter of the previous year, the weight of loans decreased from 44.4% to 40.3%, with the opposite happening with regard to securities debt, whose weight, in the same period, rose from 55.6% to 59.7%.
The breakdown of debt by issuing sector shows that the Regional Government is responsible for 96.6% (91.9% in the same quarter of the previous year) of the total debt and the Public Companies classified in the perimeter of the APR for 3.4% (8.1% in the 4th quarter of 2022).
It should also be noted that at the same time the net deposit debt “was around 4,805.4 million euros, having decreased by around 11.9 million euros (-0.2%) compared to the end of the previous quarter, and decreased by 38.8 million euros (-0.8%) compared to the same period of the previous year,” adds DREM.
Samantha Gannon
info at madeira-weekly.com
