Portugal second-quarter budget deficit spikes to 10.5% due to pandemic

in News · 24-09-2020 08:46:00 · 2 Comments

Portugal’s budget deficit soared to 10.5% of gross domestic product in the second quarter of 2020 from 2.2% a year earlier because of the coronavirus pandemic.

The National Statistics Institute also said the country expected a budget deficit of 7% of GDP in 2020 as a whole compared with a surplus of 0.1% last year, which was the first in more than four decades of Portuguese democracy.


Comments:

BTW, same thing is happening all over the world....no matter what type of government a country has.

By William from Other on 24-09-2020 10:49

That was to be expected. Portugal should have immediately cut back on its spending to only finish the year with a small deficit. However, that cannot be done with a socialist government. There will be a price to pay for this.

By John Dough from Lisbon on 24-09-2020 08:55
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