for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

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

LISBON, Sept 23 (Reuters) - Portugal’s budget deficit soared to 10.5% of gross domestic product (GDP) in the second quarter of 2020 from 2.2% a year earlier due to the impact of the coronavirus pandemic, official data showed on Wednesday.

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

Reporting by Catarina Demony and Sergio Goncalves, Editing by Andrei Khalip

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up