At the end of the 4^th quarter 2020

Gross debt of the Regional Administration of Madeira peaked at 5.109 billion Euros as a consequence of the COVID-19 pandemic

The gross debt of the Regional Administration of Madeira (RAM) stood at 5.109 billion Euros at the end of the 4^th quarter 2020, increasing by 330 million Euros (+6.9%) from the 3^rd quarter of 2020, and going up by 446 million Euros (+9.6%) from the year-ago quarter. This significant growth, which led to the gross debt value at the end of 2020 being the highest ever, is exclusively due to a bond loan of 458 million Euros asked by the Region, following the authorization granted by the State to the Region in order to get a loan to cover exceptional financing needs, deriving directly or indirectly, from the COVID-19 pandemic.  Without this loan, the amount of gross debt  would have continued the downward trend that started in the previous quarter and would be around 4.651 billion Euros.

The breakdown of the gross debt by financial instrument shows a decrease in the share of loans from 61.2% in the 4th quarter of 2019 to 51.7% in the reference quarter. This decline was offset by the growth in the percentage of securities which, during the same period, rose from 38.8% to 48.3%.

Net debt stood at 4.558 billion Euros

The net debt of the Regional Administration of Madeira stood at 4.558 billion Euros at the end of the 4^th quarter 2020. Compared to the previous quarter, the net debt increased by 128 million Euros (+2,9), and went up  by 86 million Euros (+1.9%) over the year-ago quarter.

Notes:

Debt compiled according to the definition of the Excessive Deficit Procedure (Regulation (CE) 479/2009, of 25 May), i.e., general government consolidated gross debt at nominal or face value (Maastricht debt).

Net debt of deposits corresponds to Gross Debt (Maastricht debt) minus the deposits in resident banks.

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