Ministry of Finance: numbers of budget execution defend us from Brexit – Jornal de Negócios – Portugal

The Ministry of Finance welcomed the budget deficit of 3.2% in the first quarter of the year published by the INE, stressing that the aim of reducing the public deficit by 1.3 billion in interiro year, the government has managed EUR 939 million in the first three months of the year. Data which, in the opinion of Mario Centeno team, “confirmed a rigorous budgetary execution” which helps to “overcome moments of uncertainty that live in the European Union, such as those resulting from the option” Brexit “expressed by the British voters,” Le- if a reaction in writing sent to the business.

“the Government reiterates confidence in the fiscal consolidation process, reinforced by figures from the National Statistics Institute (INE) now known,” write the leaders of the ministry of Finance , who welcome the performance of public accounts. “In the first quarter 2016, the general government deficit in national accounts was 3.2% of GDP. A figure compares with a deficit of 5.5% published by the INE in the same period of 2015. This is the deficit budget of the first lower quarter since 2008, “reads the note of Finance sent to the business, which is consistent with the assessment that John Leo, the budget Secretary of State had done in Parliament in May when anticipated that INE data would reflect a budget execution “very positive”.

“This reduction of 2.3 percentage points exceeds the improvement of 0.9 percentage points planned for 2016. it is recalled that the deficit in 2015, excluding the capitalization of BANIF, stood at 3.1% of GDP and the state budget for 2016 foresees a 2.2% deficit, “the ministry continues, stating that, in these three months,” the budget deficit reduced from EUR 939 million, is expected a decrease of about 1 300 million for the full year. “

the deficit of 3.2% of GDP was one-tenth below the average point estimate the Technical Unit of Budget Support (UTAO) earlier this month. Technicians working in the parliament considered that the result did not put at risk the final deficit target for the year of 2.2% of GDP taken by the government.