At the end of May, private sector debt, which includes companies and individuals, amounted to approximately €465.081 billion, while nearly €374.056 billion was owed to the public sector – composed of public administrations and public companies.

In the fifth month of the year, private sector debt grew by €3.512 billion compared to April, or 2.9% year-over-year, driven by increases of €2.329 billion from companies and €1.183 billion from individuals. According to the BdP, corporate debt grew by approximately €2.329 billion, "reflecting increases with the financial sector (€1.6 billion) and abroad (€0.7 billion)."

The increase in individual debt, of approximately €1.183 billion, was "primarily due to real estate credit, as in previous months."

Thus, at the end of May, private corporate debt amounted to €300.7 billion and individual debt to €164.38 billion, equivalent to annual increases of 1.3% and 6.1%, respectively.

In the public sector, the increase of R$4.424 million occurred primarily with foreign debt (R$3.4 billion), through the purchase of long-term public debt securities by non-residents. Public sector debt also grew among public administrations (nearly €400 million), individuals (€300 million) – due to subscriptions to savings certificates – and non-financial corporations (€300 million).

At the end of May, public sector debt amounted to €374,056 million, up 4.0% year-over-year.

In the month under review, private corporate debt had an annual rate of change (ARR) – which excludes the impact of changes not driven by transactions themselves – of 1.8% compared to the same month in 2024, accelerating from 1.0% in April.

Among individuals, the ARR rose 6.1%, reaching its highest level since the beginning of the series, and accelerating from 5.6% in April, with the BdP noting that this rate has been rising since the end of 2023.