Official Portal - Statistics Portugal
      
 

Excessive Deficit Procedure - revision of the 1st notification for 2015 - Downward revision of the General Government Deficit in 105.4 million euro
Excessive deficit procedure
Excessive Deficit Procedure - revision of the 1st notification for 2015 - Downward revision of the General Government Deficit in 105.4 million euro
17 April 2015

Summary

According to EU regulations, Statistics Portugal sent to Eurostat a revised version of the first notification for 2015 related to the Excessive Deficit Procedure published on 26 of March. This revision refers only to the results for 2014, improving the net borrowing of General Government from -7822.3 to -7716.6 million euro (although maintaining the deficit in 4.5% of GDP). This revision was mainly due to the incorporation of information recently obtained related to the contribution of Portugal to the European Union Budget.
It is important to recall again that the results for 2014 maintain a provisional nature notably because there is not yet sufficient information to have a final recording of the capitalization of "Novo Banco".


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