The reduction of the budget deficit accelerated in November, according to revealed the ministry of Finance. “Up to November, the deficit of the general Government (GG) decreased by 394 million euros compared to the same period last year,” reads the statement sent to newsrooms. In October, the lowering of the deficit in the face of 2015 was at 357 million euros.
The Finance explain that this is “a performance that resulted from the increase of 1.9% of revenues, higher than the growth of 1.3% of gdp” and stressed that the “primary balance [without interest] of the general Government was positive: 3 646 million euros, which represents an improvement of 713 million euros from 2015″.
These data from the budget execution, which are in public accounting (optical box), are known on the same day that the National Institute of Statistics released the deficit in the national accounts (optical appointments, the relevant criterion for the Brussels). In the first three quarters of this year, the deficit on a national accounts basis stood at 2.5%, precisely the limit imposed by the Commission to Portugal for this year.
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