(MENAFN) The Portuguese National Institute of Statistics (INE) revealed that the country's government budgetary deficit amounted to USD2.73 billion of GDP in the first quarter, Xinhua reported.
The figures represented 5.8 percent of the country's GDP compared to a deficit of 5.9 percent of GDP registered in the same quarter a year earlier, the INE released data showed.
The INE added that in the first three months of the current year the country has registered "a more pronounced increase in revenue compared with expenditure."
Meanwhile, the Portuguese government has insisted that the country will manage to bring its budget deficit down to below 3 percent of GDP during the current year.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.