Lisbon, Jan. 31, 2025 (Lusa) - Public debt ended 2024 with a ratio of between 96% and 97% of Gross Domestic Product (GDP), the finance minister said on Friday.

Joaquim Miranda Sarmento was speaking at Leader's Agenda 2025, organised by ISEG in Lisbon, where he pointed out that debt and public finances are one of the "bottlenecks" of the Portuguese economy.

On this subject, the minister pointed out that the budget balance is currently balanced, there was a surplus in 2023 and the government's estimate for 2024 is a surplus of 0.4% of GDP and 0.3% in 2025 .

"We have to maintain surpluses to ensure that we continue to reduce public debt," reiterated the minister, adding that public debt will close 2024 at between 96% and 97% of GDP.

The public debt ratio reached 97.9% in 2023 and the estimates in the State Budget for 2025 pointed to a debt of 95.9% in 2024 and 93.3% in 2025.

Data on the 2024 budget execution in public accounts will be released on Friday by the Directorate-General for the Budget and the minister didn't want to anticipate figures, but emphasised that "it went quite well".

MES/ADB // ADB.

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