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Excessive Deficit Procedure (2nd notification for 2018)
Excessive deficit procedure
Excessive Deficit Procedure (2nd notification for 2018)
21 September 2018

Summary

According to EU regulations, Statistics Portugal presents the second notification for 2018 associated with the Excessive Deficit Procedure (EDP) to be send to Eurostat before the end of the month. According to these provisional results, the net borrowing of General Government (GG) in 2017 amounted to € 5 762.5 million, corresponding to 3.0% of GDP (2.0% in 2016). This balance includes the effect of the recapitalisation process of Caixa Geral de Depósitos (CGD), in the amount of € 3 944 million, implying an increase in net borrowing of 2.0% of GDP. Gross debt of GG amounted to 124.8% of GDP in 2017.


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