Government net lending/borrowing in Portugal

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: 0.0% 2027: 0.0% 2028: -0.3% 2029: -0.6% 2030: -0.9% 2031: -1.3%

-2.9 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	-2.9
Jan 1998	-4.3
Jan 1997	-3.7
Jan 1996	-4.6
Jan 1995	-5.1
Jan 1994	-7.4
Jan 1993	-8.1
Jan 1992	-5.2
Jan 1991	-7.9
Jan 1990	-6.8

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Measures the deficit or surplus of Portugal's general government: a deficit occurs when spending exceeds revenue over the year. It is compiled by Statistics Portugal (INE) and Eurostat, and is expressed as a share of GDP.

How it's calculated

Calculated as general government net lending or borrowing under the European System of Accounts (ESA 2010), on an accrual basis, and set against GDP to obtain the ratio.

Market implications

As a euro-area member, Portugal is bound by the EU fiscal rules. After years of adjustment, an improving balance and the reduction of still-high debt have driven rating upgrades; a surprise deficit would pressure the risk premium on Portuguese bonds. The monetary framework is set by the ECB.

Limitations

It is a low-frequency, revisable figure. The headline balance should be distinguished from the primary balance (excluding interest) and the cyclical component; one-off operations (bank support, EU funds) can temporarily distort the reading.