Public debt seen shrinking in absolute terms for first time

By TPN/Lusa, in News · 12-01-2020 10:00:00 · 0 Comments

Portugal’s minister of finance, Mário Centeno, said that official data is expected to reveal that the country’s public debt has shrunk for the first time in nominal terms and not only as a percentage of gross domestic product.

Centeno made the comments in parliament, under questioning from deputies on the second and final day of the debate for the first reading of the Socialist government’s draft state budget for 2020.

"Soon, we may find out that in 2019 Portuguese public debt will have already fallen in nominal terms,” the minister said, in response to a brief speech by Socialist deputy Filipe Neto Brandão. “We are expecting good news."

Neto Brandão, who is also chairman of parliament’s budget and finance committee, had highlighted "the importance of the budget surplus forecast" in the budget for this year.

"It must be recognised that this positive balance is not achieved at the expense of economic growth," the deputy said.


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