Country’s deficit climbs to €2.50B in February
Portugal's finance ministry said on Thursday that the country's deficit was €1.15 billion in February, €2.5 billion more than the same period last year.
The general government deficit in Portugal was €1.15 billion in February, €2.5 billion more than the same period last year, the finance ministry said on Thursday.
“Budget execution in public accounts of the Public Administrations until February recorded a deficit of €1.15 billion, a year-on-year worsening of €2.5 billion explained by the impact of containment measures to curb the spread of the pandemic,” according to a statement on budget execution released on Thursday.
The ministry led by João Leão added that the deterioration of the deficit reflects the significant contraction in revenue (-11.8%) and strong growth in primary expenditure (+6.9%), reflecting the negative impacts on the economy and support measures in the context of the pandemic.
