(MENAFN) According to Portugal's Budget General Directorate, the country's deficit declined by USD600.5 million to around USD262 million last month, Xinhua reported.
The improved results were due to revenue growth rising by 2.1 percent, as the country raised almost USD7 million from January to February, mostly due to a rise in indirect taxation.
The Portuguese economy is improving, with its GDP expanding in the fourth quarter last year at the fastest rate in a year. However, its debt still stands at around 125 percent of GDP.
Portugal signed a USD85.3 billion bailout program in May 2011 with the European Commission, the International Monetary Fund and the European Central Bank when it was on the verge of bankruptcy.
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