Portugal's public deficit spikes in first half due to pandemic

in News · 28-07-2020 09:47:00 · 0 Comments

The government has reported a public deficit of 6.7 billion euros in the first half of 2020, jumping 10 times compared to the same period last year, due to the impact of the coronavirus pandemic.

Total revenues fell almost ten percent and tax revenues dropped 14.5% as a consequence of a “sharp decrease in economic activity”, while expenditures grew more than 5 percent due to subsidies for laid-off workers, social benefits, health equipment purchases and hiring doctors and nurses.


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