{"id":244264,"date":"2023-03-16T14:23:23","date_gmt":"2023-03-16T14:23:23","guid":{"rendered":"https:\/\/elementum.pt\/?p=244264"},"modified":"2023-03-16T14:23:23","modified_gmt":"2023-03-16T14:23:23","slug":"emissoes-de-titulos-em-portugal-janeiro-de-2023","status":"publish","type":"post","link":"https:\/\/elementum.pt\/pt-pt\/emissoes-de-titulos-em-portugal-janeiro-de-2023\/","title":{"rendered":"Emiss\u00f5es de T\u00edtulos em Portugal | Janeiro de 2023"},"content":{"rendered":"<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\"><a href=\"https:\/\/bpstat.bportugal.pt\/conteudos\/noticias\/1856\" target=\"_blank\" rel=\"noopener\">Segundo o Banco de Portugal<\/a>, em janeiro de 2023 as emiss\u00f5es de t\u00edtulos em Portugal foram superiores \u00e0s amortiza\u00e7\u00f5es em \u20ac 1.9 mil milh\u00f5es. As emiss\u00f5es de t\u00edtulos de d\u00edvida e de a\u00e7\u00f5es superaram as amortiza\u00e7\u00f5es em \u20ac 1.8 mil milh\u00f5es e \u20ac 100 milh\u00f5es, respetivamente.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><strong><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Figura 1 \u2013 T\u00edtulos Emitidos, por Instrumento |Emiss\u00f5es Deduzidas de Amortiza\u00e7\u00f5es, em Milh\u00f5es de Euros<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEi-YAU1o_zp9tx27EBl8NPRC6BkH5VytCSdV9m1zrqY43JupsO8rTMGWdtx5DHvPHSL2u10IdteoQaV199uskIyCjAgf_9hO5qFvl3wg403t-Xhpu6ezY3ZEhoI0hNpwKHjokC_9j_lo_sssThTcL3JRq89OsU_5HiyhlUHjLEhuTP6_h7Zl95LaDByVA\/s1400\/1.png\" target=\"_blank\" rel=\"noopener\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEi-YAU1o_zp9tx27EBl8NPRC6BkH5VytCSdV9m1zrqY43JupsO8rTMGWdtx5DHvPHSL2u10IdteoQaV199uskIyCjAgf_9hO5qFvl3wg403t-Xhpu6ezY3ZEhoI0hNpwKHjokC_9j_lo_sssThTcL3JRq89OsU_5HiyhlUHjLEhuTP6_h7Zl95LaDByVA\/s1400\/1.png\" width=\"1400\" height=\"650\" \/><\/a><\/p>\n<p style=\"text-align: center\"><span style=\"font-size: 10pt\"><strong><span style=\"font-family: verdana, geneva, sans-serif\">Fonte: Banco de Portugal.<\/span><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">O setor das administra\u00e7\u00f5es p\u00fablicas foi o que mais contribuiu para este resultado, com as emiss\u00f5es de t\u00edtulos a excederem as amortiza\u00e7\u00f5es em \u20ac 2.2 mil milh\u00f5es. Por outro lado, as empresas n\u00e3o financeiras apresentaram amortiza\u00e7\u00f5es superiores \u00e0s emiss\u00f5es em \u20ac 300 milh\u00f5es.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><strong><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Figura 2 \u2013 T\u00edtulos Emitidos, por Setor Institucional | Emiss\u00f5es Deduzidas de Amortiza\u00e7\u00f5es, em Milh\u00f5es de Euros<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEhjkyatFzkzBjT6DSSKfXJcBd2DoRAoeT2UYC10FSgi9lZk39U8NpTXYTVh-j7nSQ3pUb3aTMuWrnBarhz0FMAIIzsHR38APaz2TABrkMve3DRWmP7r6Z3Jc-sRd0MLhmF_Wv9c0ZYK7UbgVf38hyXgCUWFRJbjmxDPWTC7cu4PgPQTIuJDDl4c4VYXEA\/s1400\/2.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEhjkyatFzkzBjT6DSSKfXJcBd2DoRAoeT2UYC10FSgi9lZk39U8NpTXYTVh-j7nSQ3pUb3aTMuWrnBarhz0FMAIIzsHR38APaz2TABrkMve3DRWmP7r6Z3Jc-sRd0MLhmF_Wv9c0ZYK7UbgVf38hyXgCUWFRJbjmxDPWTC7cu4PgPQTIuJDDl4c4VYXEA\/s1400\/2.png\" width=\"1400\" height=\"650\" \/><\/a><\/p>\n<p style=\"text-align: center\"><span style=\"font-size: 10pt\"><strong><span style=\"font-family: verdana, geneva, sans-serif\">Fonte: Banco de Portugal.<\/span><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">No final de janeiro de 2023, o valor total de t\u00edtulos emitidos por entidades residentes era de \u20ac 461.1 mil milh\u00f5es (mais \u20ac 5.1 mil milh\u00f5es do que no final do m\u00eas anterior), conforme a figura 3. Para este resultado contribu\u00edram as emiss\u00f5es l\u00edquidas de amortiza\u00e7\u00f5es (no valor de \u20ac 1.9 mil milh\u00f5es, conforme a figura 2) e a valoriza\u00e7\u00e3o de t\u00edtulos de d\u00edvida p\u00fablica e de a\u00e7\u00f5es emitidas pelo setor financeiro (no valor de \u20ac 2.8 mil milh\u00f5es e \u20ac 800 milh\u00f5es, respetivamente), conforme a figura 4.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><strong><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Figura 3 \u2013 T\u00edtulos Emitidos, por Tipo de Instrumento | Valor em Fim de M\u00eas, em Milh\u00f5es de Euros<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgo6-ewSMJ4uDNudU1xWqbumbK3ENWG32RtKTn0_hwWtOAyRO3XtqAtoFJ43ejaamntFVLXPUuogIJFq3ChxEGf9GwNsd0jS2WoiY_8IE2kZQwQoKQgzrbUQTKYsGkoNejOmnTlXH9Z7lwd7PgXej6tmQgS9n27nvE-DCew9vppylPGZj0UB9LfON5PRw\/s1400\/3.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEgo6-ewSMJ4uDNudU1xWqbumbK3ENWG32RtKTn0_hwWtOAyRO3XtqAtoFJ43ejaamntFVLXPUuogIJFq3ChxEGf9GwNsd0jS2WoiY_8IE2kZQwQoKQgzrbUQTKYsGkoNejOmnTlXH9Z7lwd7PgXej6tmQgS9n27nvE-DCew9vppylPGZj0UB9LfON5PRw\/s1400\/3.png\" width=\"1400\" height=\"650\" \/><\/a><\/p>\n<p style=\"text-align: center\"><span style=\"font-size: 10pt\"><strong><span style=\"font-family: verdana, geneva, sans-serif\">Fonte: Banco de Portugal.<\/span><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><strong><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Figura 4 \u2013 T\u00edtulos Emitidos, por Setor Institucional | Valor em Fim de M\u00eas, em Milh\u00f5es de Euros<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEi8HnYZr16aoBxhjWq_EzAp79URoKxn01YuHNSOePF7B3bKu1us5DK02x7WMggVSdMszioXBp4xmvygHKUwaco4x5J4H_FfhHJmlks0AoXRsw1Vm65I2ONgvMMxJry2jnP88dHySa3YKFVdJhM_xmX-HG9DLYeAAQ4MCXE1cXZ4trIxIIQby4dN2YcH8Q\/s1400\/4.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEi8HnYZr16aoBxhjWq_EzAp79URoKxn01YuHNSOePF7B3bKu1us5DK02x7WMggVSdMszioXBp4xmvygHKUwaco4x5J4H_FfhHJmlks0AoXRsw1Vm65I2ONgvMMxJry2jnP88dHySa3YKFVdJhM_xmX-HG9DLYeAAQ4MCXE1cXZ4trIxIIQby4dN2YcH8Q\/s1400\/4.png\" width=\"1400\" height=\"650\" \/><\/a><\/p>\n<p style=\"text-align: center\"><span style=\"font-size: 10pt\"><strong><span style=\"font-family: verdana, geneva, sans-serif\">Fonte: Banco de Portugal.<\/span><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">No final de janeiro de 2023, estavam previstas (para os 12 meses seguintes) amortiza\u00e7\u00f5es de \u20ac 40.5 mil milh\u00f5es (o que corresponde a 14.7% dos 274.3 mil milh\u00f5es de t\u00edtulos de d\u00edvida vivos naquela data).<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Destacavam-se as empresas n\u00e3o financeiras (com amortiza\u00e7\u00f5es calendarizadas para fevereiro de 2023 de \u20ac 4.3 mil milh\u00f5es) e as administra\u00e7\u00f5es p\u00fablicas e o setor financeiro (com amortiza\u00e7\u00f5es calendarizadas para outubro de 2023 de \u20ac 10.2 mil milh\u00f5es e \u20ac 4 mil milh\u00f5es, respetivamente).<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Nas empresas n\u00e3o financeiras, as amortiza\u00e7\u00f5es previstas correspondiam, em larga medida, a papel comercial (um instrumento de financiamento de curto prazo muito utilizado pelas empresas portuguesas e que \u00e9 habitualmente objeto de renova\u00e7\u00e3o, isto \u00e9, de amortiza\u00e7\u00e3o acompanhada de nova emiss\u00e3o, igualmente de curto prazo). \u00c9, por isso, previs\u00edvel que se registe sistematicamente um valor elevado de amortiza\u00e7\u00f5es calendarizadas para os 30 dias ap\u00f3s o fim do m\u00eas.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center\"><strong><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Figura 5 \u2013 Amortiza\u00e7\u00f5es Calendarizadas de T\u00edtulos de D\u00edvida, Em Milh\u00f5es de Euros<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEi7ae2aqpK7vNgpVNqP6dAEILtzrNXam7EqnF6msFNTXeqWU3rYo7-nlwUA6ipduw-ZiMF2RYv51rJueni1sIrsKSTAGQY-ItUeSz1x80GQZGz5UmEtBufn0spdoQo0nOKKYYkz9xhEYOs5KR4kPyFOP5ju_YeH3Ho7UehJhz_tjyJfE6FwJ1QyhjlZ7w\/s1068\/5.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEi7ae2aqpK7vNgpVNqP6dAEILtzrNXam7EqnF6msFNTXeqWU3rYo7-nlwUA6ipduw-ZiMF2RYv51rJueni1sIrsKSTAGQY-ItUeSz1x80GQZGz5UmEtBufn0spdoQo0nOKKYYkz9xhEYOs5KR4kPyFOP5ju_YeH3Ho7UehJhz_tjyJfE6FwJ1QyhjlZ7w\/s1068\/5.png\" width=\"1068\" height=\"467\" \/><\/a><\/p>\n<p style=\"text-align: center\"><span style=\"font-size: 10pt\"><strong><span style=\"font-family: verdana, geneva, sans-serif\">Fonte: Banco de Portugal.<\/span><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif;font-size: 14pt\">Andr\u00e9 Marques<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Segundo o Banco de Portugal, em janeiro de 2023 as emiss\u00f5es de t\u00edtulos em Portugal foram superiores \u00e0s amortiza\u00e7\u00f5es em \u20ac 1.9 mil milh\u00f5es. As emiss\u00f5es de t\u00edtulos de d\u00edvida e de a\u00e7\u00f5es superaram as amortiza\u00e7\u00f5es em \u20ac 1.8 mil milh\u00f5es e \u20ac 100 milh\u00f5es, respetivamente. &nbsp; Figura 1 \u2013 T\u00edtulos Emitidos, por Instrumento |Emiss\u00f5es [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":239629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"site-sidebar-layout":"default","site-content-layout":"default","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":"default","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 center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-244264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sem-categoria"],"_links":{"self":[{"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/posts\/244264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/comments?post=244264"}],"version-history":[{"count":0,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/posts\/244264\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/media\/239629"}],"wp:attachment":[{"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/media?parent=244264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/categories?post=244264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elementum.pt\/pt-pt\/wp-json\/wp\/v2\/tags?post=244264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}