SYNTHESIS INE@COVID-19, 6 Jan-2021

January . 06 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 11/12 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt General government The general government net balance was -4.0% of GDP (-2.1 p.p. than in the previous quarter), the result of an increase in expenditure of 2.1% and a decrease in revenue of 2.7%. The increase in expenditure resulted from: • +15.9% in capital expenditure; • +1.0% in current expenditure. The change in revenue resulted from: • -2.8% in current revenue; • +6.2% in capital revenue. Quarterly, the general government balance was -3.8% of GDP (EUR -1,975.6 million), compared to +4.4% over the same period last year. In year-on-year terms, total expenditure increased by 8.3% and total revenue decreased by 9.5%. Households Households’ net lending in the year ending in the 3 rd quarter 2020 stood at 4.3% of GDP (+0.3 p.p. than in the previous quarter), as a result of a 0.5% increase in disposable income. The household savings rate was 10.8% of disposable income (+0.3 p.p. than in the previous quarter), as a result of the increase in income and the zero rate of change in consumption expenditure (-3.5% in the previous quarter). Per capita adjusted household disposable income in the 3 rd quarter of 2020 stood at EUR 16.3 thousand (+0.4% than in the previous quarter). More information available at: Quarterly national sector accounts – 3 rd quarter of 2020 (23 December 2020) 10.5% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% -4.0 -3.0 -2.0 -1.0 0.0 1.0 2.0 3.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016 2017 2018 2019 2020 Rate of change of fi nal consump � on expenditure (le � scale) Rate of change of disposable income (le � scale) Saving rate (right scale) Saving rate of Households and NPISH (%, accumulated sum of 4 quarters)