Monday , August 15 2022

Lack of Portuguese budget is falling sharply to 0.5% of GDP



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LISBON, 26 March (Reuters) – The Portuguese budget deficit last year was reduced to 0.5 per cent of GDP, the lowest since the late 1970s, compared with 3 per cent in 2017, according to data. published. Tuesday by the National Statistics Institute (Ine).

The budget introduced a deficit of € 1,000,000 against 5.77 billion in 2017, says Ine.

The Portuguese government had initially forecast a deficit of 0.7% for 2018, then reduced to 0.6% by Finance Minister Centeno.

For 2019, the Ine predicts a further reduction in the public deficit to 0.2%, in line with the government's objective.

Public debt in relation to GDP fell to 121.5% in 2018 against 124.8% the previous year, according to the Ine.

The organization recalled that the deficit in 2017 was exacerbated by the reorganization of the public bank Caixa Geral de Depósitos to 3.94 billion euros. (Sérgio Gonçalves, Véronique Tison for the French service, edited by Wilfrid Exbrayat)

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