The fiscal brilliance that the government achieved in June as it moved from deficit to surplus is fading. According to the statement of the Ministry of Finance on the summary of the budget implementation of July, the public administration recorded a surplus of EUR 432 million, a decrease of EUR 681 million, more than half compared to the first half of the year, when the public accounts had reached a positive balance of EUR 1,113 million.
In a context of high inflation, which stood at 9.1% in July according to the INE, and of an increase in key interest rates by the European Central Bank, this performance threatens the “certain accounts” of Medina that will close at the end of the year. could slip away. Taking into account the expected increase in spending in the last quarter of the year with the new support to be announced by the executive in September, the finance minister may not be able to match Mário Centeno’s performance in 2019. to repeat, when for Portugal achieved for the first time in democracy a surplus of 0.2%.
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Source: DN
