The Portuguese government reported a EUR 3.8 billion deficit in 2016, equivalent to 2.1 percent of the GDP, preliminary estimates from the statistical office showed. Figures came well below a 4.4 percent gap in 2015 and a 2.5 percent deficit agreed with the European Union. It is the lowest budget gap of the democracy era and below the 3 percent maximum allowed under EU rules. The narrowing is mainly due to lower capital outlays and higher social security receipts. For 2017, the government expects the deficit to fall further to 1.6 percent of the GDP. On the other hand, public debt increased to 130.4 of the GDP from 129 percent in 2015 but is expected to decline to 128.5 percent in 2017. Government Budget in Portugal averaged -5.13 percent of GDP from 1995 until 2016, reaching an all time high of -2.10 percent of GDP in 2016 and a record low of -11.20 percent of GDP in 2010.
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Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides – Portugal Government Budget – actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Government Budget – actual data, historical chart and calendar of releases – was last updated on March of 2017.