{"id":242647,"date":"2022-03-28T10:15:26","date_gmt":"2022-03-28T09:15:26","guid":{"rendered":"https:\/\/elementum.pt\/2022\/03\/28\/emissoes-de-titulos-em-portugal-janeiro-de-2022\/"},"modified":"2022-08-01T12:31:03","modified_gmt":"2022-08-01T11:31:03","slug":"emissoes-de-titulos-em-portugal-janeiro-de-2022","status":"publish","type":"post","link":"https:\/\/elementum.pt\/pt-pt\/emissoes-de-titulos-em-portugal-janeiro-de-2022\/","title":{"rendered":"Emiss\u00f5es de T\u00edtulos em Portugal | Janeiro de 2022"},"content":{"rendered":"<p style=\"text-align:center;\"><span><span style=\"font-family:Verdana;font-size:18px;\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/elementum.pt\/wp-content\/uploads\/2022\/08\/euro-eur-1.png\" width=\"600\" height=\"250\" alt=\"\" \/><br \/><\/span><\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\"><br \/><\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\">O Banco de Portugal <a href=\"https:\/\/bpstat.bportugal.pt\/conteudos\/noticias\/1572\/\" target=\"_blank\" rel=\"noopener\">publicou<\/a>&nbsp;<\/span><span style=\"font-family:Verdana;font-size:18px;\">os dados de janeiro de 2022 sobre asemiss\u00f5es e amortiza\u00e7\u00f5es de t\u00edtulos em Portugal.<\/span><\/p>\n<p style=\"text-align:justify;\"><span><span style=\"font-family:Verdana;font-size:18px;\"><br \/><\/span><\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\">Em janeiro de 2022, as emiss\u00f5es de t\u00edtulosexcederam as amortiza\u00e7\u00f5es em 1.7 mil milh\u00f5es de euros, sobretudo devido \u00e0semiss\u00f5es de t\u00edtulos de d\u00edvida, que excederam as amortiza\u00e7\u00f5es em quase 1.7 milmilh\u00f5es de euros.<\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\"><br \/><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:18px;\"><strong>Figura 1 \u2013 T\u00edtulos Emitidos, por Instrumento |Emiss\u00f5es Deduzidas de Amortiza\u00e7\u00f5es, em Milh\u00f5es de Euros (2020-2022)<\/strong><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:18px;\"><img decoding=\"async\" src=\"https:\/\/elementum.pt\/wp-content\/uploads\/2022\/08\/43_1-1.png\" width=\"900\" height=\"400\" alt=\"\" \/><br \/><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:12px;\"><strong>Fonte: Banco de Portugal.<\/strong><\/span><\/p>\n<p style=\"text-align:center;\"><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\">O setor que mais contribuiu para esteresultado foi o das administra\u00e7\u00f5es p\u00fablicas, com as emiss\u00f5es a excederem asamortiza\u00e7\u00f5es em 3.4 mil milh\u00f5es de euros. Por outro lado, as sociedadesfinanceiras e as sociedades n\u00e3o financeiras amortizaram t\u00edtulos num montantesuperior ao emitido em 1.2 e 0.4 mil milh\u00f5es de euros, respetivamente.<\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\"><br \/><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:18px;\"><strong>Figura 2 \u2013 T\u00edtulos Emitidos, por SetorInstitucional | Emiss\u00f5es Deduzidas de Amortiza\u00e7\u00f5es, em Milh\u00f5es de Euros (2020-2022)<\/strong><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:18px;\"><img decoding=\"async\" src=\"https:\/\/elementum.pt\/wp-content\/uploads\/2022\/08\/38_2-1.png\" width=\"900\" height=\"400\" alt=\"\" \/><br \/><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:12px;\"><strong>Fonte: Banco de Portugal.<\/strong><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:12px;\"><strong><br \/><\/strong><\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\">O valor total de t\u00edtulos emitidos porentidades residentes em Portugal diminuiu 100 milh\u00f5es de euros, para 489.4 milmilh\u00f5es no final de janeiro de 2022 (figura 3). O valor dos t\u00edtulos emitidospor administra\u00e7\u00f5es p\u00fablicas aumentou 900 milh\u00f5es de euros (figura 4), com asemiss\u00f5es a contrabalan\u00e7arem a desvaloriza\u00e7\u00e3o dos t\u00edtulos de d\u00edvida p\u00fablica. Ovalor dos t\u00edtulos emitidos por sociedades n\u00e3o financeiras aumentou 200 milh\u00f5esde euros (figura 4), impulsionado pela valoriza\u00e7\u00e3o de a\u00e7\u00f5es cotadas, que maisdo que compensou as amortiza\u00e7\u00f5es. Por seu lado, as sociedades financeirasregistaram um decr\u00e9scimo no valor dos seus t\u00edtulos de 1.1 mil milh\u00f5es de euros(figura 4).<\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\"><br \/><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:18px;\"><strong>Figura 3 \u2013 T\u00edtulos Emitidos, por Tipo deInstrumento | Valor Total em Fim de M\u00eas, em Milh\u00f5es de Euros (2020-2022)<\/strong><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:18px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/elementum.pt\/wp-content\/uploads\/2022\/08\/32_3-1.png\" width=\"900\" height=\"400\" alt=\"\" \/><br \/><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:12px;\"><strong>Fonte: Banco de Portugal.<\/strong><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:12px;\"><strong><br \/><\/strong><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:18px;\"><strong>Figura 4 \u2013 T\u00edtulos Emitidos, por SetorInstitucional | Valor em Fim de M\u00eas, em Milh\u00f5es de Euros (2020-2022)<\/strong><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:18px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/elementum.pt\/wp-content\/uploads\/2022\/08\/25_4-1.png\" width=\"900\" height=\"400\" alt=\"\" \/><br \/><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:12px;\"><strong>Fonte: Banco de Portugal.<\/strong><\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\"><br \/><\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\">O Banco de Portugal tamb\u00e9m afirma que, dototal de 307.6 mil milh\u00f5es de euros em t\u00edtulos de d\u00edvida vivos no final dejaneiro, estavam previstas, para os 12 meses seguintes, amortiza\u00e7\u00f5es de 41.4mil milh\u00f5es de euros, o que corresponde a 13.5% do total.<\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\"><br \/><\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\">Destacavam-se as administra\u00e7\u00f5es p\u00fablicas, comamortiza\u00e7\u00f5es de 9.3 mil milh\u00f5es de euros calendarizadas para outubro de 2022, eas sociedades financeiras, com amortiza\u00e7\u00f5es de 3.4 mil milh\u00f5es de euros em julhode 2022. As sociedades n\u00e3o financeiras contabilizavam 2.6 mil milh\u00f5es de eurosde amortiza\u00e7\u00f5es previstas para fevereiro de 2022. Este \u00faltimo valorcorresponde, em larga medida, a papel comercial, um instrumento definanciamento de curto prazo muito utilizado pelas empresas portuguesas e que \u00e9habitualmente objeto de renova\u00e7\u00e3o, isto \u00e9, de amortiza\u00e7\u00e3o acompanhada de novaemiss\u00e3o, igualmente de curto prazo. \u00c9, por isso, previs\u00edvel que se registesistematicamente um valor elevado de amortiza\u00e7\u00f5es calendarizadas para os 30dias ap\u00f3s o fim do m\u00eas.<\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\"><br \/><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:18px;\"><strong>Figura 5 \u2013 Amortiza\u00e7\u00f5es Calendarizadas deT\u00edtulos de D\u00edvida, Em Milh\u00f5es de Euros<\/strong><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:18px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/elementum.pt\/wp-content\/uploads\/2022\/08\/25_5-1.png\" width=\"900\" height=\"400\" alt=\"\" \/><br \/><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:12px;\"><strong>Fonte: Banco de Portugal.<\/strong><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:12px;\"><strong><br \/><\/strong><\/span><\/p>\n<p style=\"text-align:center;\"><span style=\"font-family:Verdana;font-size:12px;\"><strong><br \/><\/strong><\/span><\/p>\n<p style=\"text-align:justify;\"><span style=\"font-family:Verdana;font-size:18px;\">Andr\u00e9 Marques<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>O Banco de Portugal publicou&nbsp;os dados de janeiro de 2022 sobre asemiss\u00f5<\/p>\n","protected":false},"author":4,"featured_media":242648,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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