Lisbon, Aug. 22, 2025 (Lusa) - Investment in savings certificates increased again in July, with the value of debt securities growing by €404 million compared to June, according to figures released by the Bank of Portugal (BdP) on Friday.

The total volume invested in certificates grew 1.1% compared to the previous month and 12.6% compared to the same period in 2024.

With this trajectory, the Portuguese state debt in the form of savings certificates rose to €38.22 billion, the highest figure in almost 27 years, since the start of the central bank's data series, which began in December 1998.

After totalling €37.817 billion in June, the stock grew by €404.31 million.

Compared to July last year, the increase is €4.28 billion, since in the same month the volume of certificates totalled €33.9 billion, according to the BdP statistics.

This is the tenth month in a row that the overall value of certificates has grown.

From June to July, there was an acceleration in investors' commitment to these public debt securities.

After purchases totalling €318.96 million, individuals and companies invested €404.31 million in June, although this is still below the amount invested in May (€475.23 million).

June and July are the months when many workers receive their holiday pay.

Although the total value continues to grow month on month, the certificates began to lose the interest of savers in 2024, when, in June, the series of certificates on sale (“E series”) was replaced by the “F series”, with a lower interest rate.

Other figures released today by the BdP show that in the first half of the year (up to June), the indebtedness of private individuals and companies increased to €468.8 billion, up €13.2 billion on the end of 2024.

In the case of private individuals, indebtedness grew by €7bn, ‘essentially to the financial sector’, which accounted for €6.6bn, of which €5.1bn was in mortgage loans.

PCT/ADB // ADB.

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