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Net lending of the Portuguese economy stood at 1.1% of GDP
Quarterly National Sector Accounts
Net lending of the Portuguese economy stood at 1.1% of GDP - 4th Quarter 2015
24 March 2016


The net lending of the economy stood at 1.1% of Gross Domestic Product (GDP) in the year ending in the fourth quarter 2015, similar to the one observed in the previous quarter. The gross savings increased by 0.2%, with an increase of Gross Disposable Income (GDI) of the nation (0.6%) slightly lower than the increase of final consumption expenditure of the economy (0.7%). The GDP and the Gross National Income (GNI) increased by 0.8% and 0.6% in the fourth quarter 2015, respectively. The evolution of the GNI reflected the reduction of the balance of property income with the Rest of the World (growth rates of -6.1% in the income received and 0.3% in the income paid).
The Households savings rate stood at 4.2%, 0.2 percentage points lower than in the previous quarter, reflecting the effects of the increase of private consumption larger than the increase of disposable income (change rates of 0.7% and 0.5%, respectively). The net lending of the Non-Financial Corporations was 0.6% of GDP (0.5% in the previous quarter) and the investment rate of this sector decrease to 20.1% of GDP (less 0.3 percentage points than in the previous quarter).
The net borrowing of General Government (GG) increased, shifting from 3.1% of GDP in the year ending in the third quarter 2015 to 4.4%. This reduction in the balance of GG was determined by the recording of the Banif resolution process in the fourth quarter 2015 with a corresponding impact of 1.4% of GDP.
In 2015, the overall balance of the GG was -7893.0 million euros, corresponding to -4.4% of GDP (-7.2% of GDP in 2014).

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