Deficit worsens and reaches €6.878 billion

The deficit of public accounts worsened by €550 million until August, compared to the same period last year, reaching €6.878 billion.

By TPN/Lusa, in Business · 28 Sep 2021, 19:00 · 1 Comments

According to the Ministry of Finance: "The deficit of Public Administrations until August reached €6.878 billion in public accounting, worsening by €550 million compared to the same period of the previous year as a result of the increase in expenditure (5.1 percent) having been higher than that observed in revenue (4.7 percent)".

"This aggravation is largely influenced by the extension of the deadline for delivery of the VAT in August", underlines the office led by João Leão, in the usual communiqué that precedes the disclosure of the budget by the Directorate-General for the Budget (DGO).

According to the document, primary expenditure grew 6.5 percent "reflecting the extraordinary measures to support the economy and the strong growth dynamics of the National Health Service".

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Comments

Perhaps if politicians and ex politicians actually paid their taxes (so many don't, so many find ways of buying real estate for example, without paying any taxes) , if Portuguese endemic corruption actually ended, and people worked, then perhaps the country wouldn't be in such dire conditions. So, more taxes for everyone on the way and more EU funds to funnel into private pockets. Nothing much changes in Portugal.

By K from Algarve on 28 Sep 2021, 22:14