Portugal: Deficit revised upwards to 5.8 pct of GDP – INE

The 2020 general government deficit in Portugal was revised upwards by one-tenth of a per cent, to 5.8% of GDP, according to the second Excessive Deficit Procedure (EDP) notification published on Thursday by Statistics Portugal (INE).

The Finance Ministry’s deficit forecast for 2021, meanwhile, remained at 4.5% of GDP.

“According to the provisional results obtained in this exercise, in 2020 the general government balance was -€11.68 billion, which corresponded to -5.8% of GDP (positive balance of 0.1% in 2019),” INE said.