The net lending of Portuguese economy remained at 0.1% of Gross Domestic Product (GDP) in the year ending in the first quarter of 2021. Gross National Income (GNI) and Gross Disposable Income (GDI) decreased by 0.9% and 0.7%, respectively, in the first quarter of 2021 (both recorded a decrease of 0.8% in the previous quarter), with nominal GDP decreasing by 0.9% (quarter-on-quarter rate of change of -1.0% in the year ending in the fourth quarter of 2020).
In the first quarter 2021, the net lending of households sector increased by 1.0 percentage points to 7.0% of GDP and the savings rate reached 14.2% (12.8% in the previous quarter), attaining in both cases the maximum values of the current series of National Accounts, mainly reflecting the 1.7% reduction in private consumption.
The balance of Non-Financial Corporations was less negative in 0.2 percentage points in the first quarter, standing at  2.1% of GDP, reflecting the 38.3% increase in operating subsidies received, which more than offset the reduction of 1.2% of Gross Value Added (GVA). The net lending of Financial Corporations decreased 0.1 percentage points to 2.0% of GDP.
The deficit of the General Government (GG) sector increased by 1.1 percentage points in the year ending in the first quarter of 2021, representing a net borrowing of 6.8% of GDP. Considering quarterly figures and not the year ending in the quarter, the balance of GG in the first quarter of 2021 was -2 813.1 million euros (-5.7% of GDP, compared with -1.2% in the same quarter of the previous quarter).