At the end of the 3^rd quarter of 2021

Gross debt of the Regional Public Administration of Madeira stood at 5.204 billion Euros

The gross debt of the Regional Public Administration of Madeira stood at 5.204 billion Euros at the end of the 3^rd quarter of 2021, increasing by 240 million Euros (+4.8%) compared to the end of the previous quarter, and increasing by 425 million Euros (+8.9%) from the year-ago quarter.

The quarterly growth is explained by the bond issue that occurred in July 2021, to guarantee the payments of loans of the Regional Public Administration of Madeira. This should be a transient increase, and its effect nullified by the end of 2021.

In turn, the significant year-on-year change is also largely due to a loan, which only took place in the 4^th quarter of 2020, to cover exceptional financing needs, deriving directly or indirectly, from the COVID-19 pandemic. Without this loan, the amount of gross debt in the quarter in reference would be around 4.746 billion euros.

The breakdown of the gross debt by financial instrument shows a decrease in the share of loans from 56.8% in the 3^rd quarter of 2020 to 48.0% in the reference quarter. This decline was offset by the growth in the percentage of securities which, during the same period, rose from 43.2% to 52.0%.

By issuer, the Regional Government is responsible for 91.2% (89.4% in the same quarter of the previous year) of the gross debt and the Public Enterprises classified in the government sector for 8.8% (10.6% in the 3^rd quarter of 2020).

Net debt of deposits stood at 4.636 billion Euros

The net debt of deposits stood at around 4.636 billion Euros at the end of the 3^rd quarter of 2021. Compared to the end of the previous quarter, the net debt increased by 30 million Euros (+0.6%), growing by 205 million Euros (+4.6%) year-on-year.

Notes:

Government debt (Maastricht debt)

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

Net Debt of Deposits

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

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