In its first notification to Eurostat, as part of the EDP, INE said that, in national accounts, the Public Administration deficit was €3.807 billion last year, or 2.1% of GDP.

This figure is in line with the Government’s latest projection, as the Finance Minister, Mário Centeno, gace assurances in parliament that the deficit “will not be higher than 2.1% of GDP."

The figure reported to Eurostat on Friday opens the way to Portugal leaving the Excessive Debt Procedure, which the country has been in since 2009, as it is lower than the benchmark of 3.0% outlined in the Growth and Stability Pact, as well as being lower than the most demanding figures, of a deficit of 2.5% of GDP, set out for the country when it closed the sanction process.

The deficit in 2016 is lower than the 4.4% deficit recorded in 2015 (of €7.826 billion).