Deficit improves 2,290 million euros by September
In a press release, the Finance Ministry revealed the deficit retrieved 2.290 million euros by September in comparison to the same period of last year.
The Directorate General for Budget reveals the summary of this Thursday’s budgetary execution. The press release from Mário Centeno’s office announces the public accounts’ deficit stood at 569 million euros by September, 2.290 million euros’ less than on the same nine months of 2016. The Ministry justifies the evolution of the growth in revenue and the “stabilization” of expenses, but warns that the upcoming months will harm the evolution of the deficit.
The Portuguese Finance Ministry revealed that income increased 4.1% until the third quarter of this year, while expense grew just 0.1%. The press release highlights that concerning income, there was a 6% increase in tax revenue justified by VAT (+7.1%) and income from Company Tax (IRC, +21.8%).
“The continued favorable evolution of the deficit will accommodate the high impact of factors that will translate into a decrease in the rhythm of deficit decrease in the fourth quarter”, the Ministry acknowledges.
