Portugal’s national accounts recorded a gross domestic product (GDP) surplus of 1.0% in the second quarter of this year, lower than the 1.4% recorded for the same period in 2022, the National Institute of Statistics (INE) reported this Friday.
“Taking into account quarterly values, and not the year ending quarter, the AP balance [Administrações Públicas] in the second quarter of 2023 it was positive at €689.0 million, corresponding to 1.0% of GDP, which compares with 1.4% in the same period last year,” says INE in the Quarterly National Accounts by Institutional Sector.
Compared to the same period last year, income increased by 7.8%, and expenses by 8.9%, the statistical institute clarifies.
In the first three months of the year, Portugal recorded a budget surplus of 1.2% of GDP.
For the full year, the Government is maintaining a deficit forecast of 0.4%, in line with 2022 levels and below the 0.9% recorded in the 2023 State Budget, as announced in April by the Finance Minister in a budget presentation. Stability Program (PE).
Author: Lusa
Source: CM Jornal
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