Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Portugal draft budget targets first surplus in decades, solid growth

Published 12/16/2019, 07:40 PM
Updated 12/16/2019, 07:46 PM
Portugal draft budget targets first surplus in decades, solid growth

Portugal draft budget targets first surplus in decades, solid growth

LISBON (Reuters) - Portugal's government unveiled its draft 2020 budget on Tuesday, projecting the country's first fiscal surplus in 45 years of democracy on solid growth and promising a gentle tax reduction for small firms and more taxes on bullfighting events.

"It is the first budget delivered with a surplus," Portugal's finance minister Mario Centeno told reporters. "Growing, consolidating public accounts and reducing debt is very rare worldwide."

The envisaged surplus of 0.2% of gross domestic product comes after a projected deficit of 0.1% for 2019.

The surplus will provide an extra push to alleviate Portugal's debt burden - still among the highest in the euro zone - but expected to drop to 116.2% of the nation's GDP from this year's 118.9%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.