The net lending of Portuguese economy was 0.4% of Gross Domestic Product (GDP) in the year ending in the third quarter of 2021 (0.1% in the previous quarter). Gross National Income (GNI) and Gross Disposable Income (GDI) increased by 1.4% and 1.5%, respectively, in the year ending in the third quarter (after increases of 3.7% and 4.0% in the previous quarter), with GDP increasing by 1.5% in nominal terms (quarter-on-quarter rate of change of 3.6% in the year ending in the second quarter of 2021).

In the third quarter of 2021, the net lending of households sector decreased by 0.5 percentage points to 4.9% of GDP and the savings rate stood at 11.3% (11.7% in the previous quarter), mainly reflecting the 1.2% growth in private consumption, above the increase in disposable income.

The balance of Non-Financial Corporations stood at -2.1% of GDP, 1.1 percentage points less than in the previous quarter, reflecting both the 3.4% increase in Gross Capital Formation and the 1.7% increase in compensation of employees. The net lending of Financial Corporations decreased by 0.1 percentage points to 1.5% of GDP.

The net borrowing of the General Government (GG) sector decreased by 2.0 percentage points in the year ending in the third quarter of 2021, to 3.9% of GDP. Considering quarterly figures and not the year ending in the quarter as a reference, the balance of GG in the third quarter of 2021 reached the positive value of 1 904.1 million euros, corresponding to 3.5% of GDP, which compares with -4.2 % in the same period of the last year. It should be noted, however, that this result is influenced by the recording in the third quarter, as a transfer of capital received, the reimbursement of the prepaid margin and respective application interest, in the amount of 1 114.2 million euros retained upon granting of the loan, by the European Financial Stabilization Fund to the Portuguese State.