The target for this year’s government deficit measured in national accounts (the one that counts for Brussels and international assessments) remains at 1.9% of gross domestic product (GDP), the National Institute of Statistics (INE) said Friday. familiar. with the Excessive Deficit Procedure, a document that lists the best estimates from the Ministry of Finance (MF).
Therefore, at the end of September, we are less than a month away from the new OE2023 – State Budget for 2023 (which will come with new targets, estimates and forecasts for this year and the next), but Terreiro do Paço chose to keep everything the same in the proposed budget balance in the OE currently in progress.
Medina decided to leave this target of OE2022 as it was initially (March/April), even though the estimated 2022 nominal GDP (the denominator of this ratio) has increased from €227 billion in March to €230.5 billion today.
The deficit does not change, but the debt ratio is decreasing compared to April last year. As INE now shows, this year’s debt load (whose target was 120.7% of GDP six months ago, on March 25, a month after Russia invaded Ukraine) should be lighter, but only because of the strength of the increase in the size of the Portuguese economy to, as mentioned, a nominal GDP of EUR 230.5 billion.
Source: DN
