At the end of the first quarter of 2022

Gross debt of the Regional Public Administration of Madeira stood at 5,269.0 million euros

The gross debt of the Regional Public Administration of Madeira stood at 5,269.0 million euros at the end of the 1^st quarter of 2022, increasing by 194.2 million euros (+3.8%) compared to the end of the previous quarter, and rising by 200.6 million euros (+4.0%) from the year-ago quarter.

It should be noted that, in March 2022, there was a bond issue of 260.0 million euros, 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 2022.

The breakdown of the gross debt by financial instrument shows a decrease in the share of loans from 51.6% in the first quarter of 2022 to 45.1% in the reference quarter. This decline was offset by the growth in the percentage of securities which, during the same period, rose from 48.4% to 54.9%.

By issuer, the Regional Government is responsible for 91.8% (90.5% in the same quarter of the previous year) of the gross debt and the Public Enterprises classified in the government sector for 8.2% (9.5% in the first quarter of 2021).

Net debt of deposits stood at 4,675.9 million euros

The net debt of deposits stood at around 4,675.9 million euros at the end of the first quarter of 2022. Compared to the end of the previous quarter, the net debt decreased by 36.8 million euros (-0.8%) and grew by 177.6 million euros (+3.9%) year-on-year.

Notes:

Government debt (Maastricht debt)

Public debt is 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 value (Maastricht debt). This concept diverges from the total stock of liabilities defined in the ESA, both in terms of the instruments accounted for and in terms of the valuation criteria. This concept of debt adopts the nominal value as the valuation rule, i.e. the value which the public administration (issuer/debtor) must repay at the end of the contract. The limit established in the Protocol annexed to the Treaty on the Functioning of the European Union is 60% of GDP.

Net Debt of Deposits

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

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