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April 14, 2023
António Seladas, CFA
António Seladas, CFA
Portugal – March CPI: Prices are adjusting, however MoM core data has been volatile.
The Portuguese Statistic Institute has just released, March CPI final figures and its subcomponents.
April 04, 2023
António Seladas, CFA
António Seladas, CFA
Portugal Economy: Government gross debt in percentage of GDP keeps increasing
The process of increasing Deposits remains in place, and it should take more 2 or 3 months, after the strong reduction by the end of last year. So the Debt to GDP ratio is now around 115% vs. a target for the yearend of 111%.
April 04, 2023
António Seladas, CFA
António Seladas, CFA
Portuguese Economy - February budget execution surprised on the upside
February’s budget execution surprised on the upside, surplus improved €975MnYoY to +€287M; +€2.3BnYtD vs. +€1.14Bn YtD/22; while the deficit vs. GDP on a trailing cash basis (last 12 months) is now: -1% vs. December/22: -1.5% and Feb/22: -2.8%.
April 03, 2023
António Seladas, CFA
António Seladas, CFA
Portuguese Banking Industry, February – Liquidity remains plenty, while NIM slightly adjusted
In a nutshell, there’s still plenty of liquidity in the system, the ratio Loans to Deposits, despite a slightly increase over the last 2 months remains well below 1x (at 0.8531), so time deposits remuneration should continue to increase.
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