As the nation’s politicians lock horns in the run-up to autumn elections, the “truth” is that austerity and the policies demanded by the troika have seen Portugal’s public debt “skyrocket” 36.4%.
In simple terms this means that the Socialist government under currently-jailed prime minister José Sócrates left the country with a State debt of €164 billion, while the austerity-led government of the PSD under Pedro Passos Coelho with the backing of CDS-PP coalition partners has taken that total to €224 billion: an overall increase of €59.8 billion.
The data, supplied by public-debt ‘watchdog’ IGCP, translates into Portugal’s debt costing each of its citizens €21,350 - when in 2011 it cost around €15,650.