Portugal’s central government deficit falls

Friday, 15 April 2011 03:43

Portugal's central government deficit fell to 148 million euros in the first quarter from 1.8 billion euros a year earlier and state spending fell 3.7 % in the quarter, this reduction will allow the country to meet its overall budget deficit goal of 4.6 %.

The deficit reduction targets are 4.6 % this year, 3 % in 2012 and 2 % in 2013, but are expected to include harsher spending cuts than previously planned.

The government's said that including the social security system accounts showed a surplus of 431 million euros after a deficit of 1.3 billion euros a year ago.

It is to present the full monthly core state sector deficit figures, including the national health service and local government accounts, on April 20.