Portugal’s commendable 2017 budget surplus marred by mountainous debt figure

parliamentPortugal had the fourth biggest budget surplus from the eurozone involving the third and second quarter this past year, in accordance with eurostat figures, outside now.

The third quarter budget surplus was the greatest at 23 years, together with the eurostat data demonstrating the relative standing of Portugal inside the eurozone.

The effect also contrasts favourably with the eurozone average, in which a funding deficit of 0.3 percent of GDP has been reported.

This functionality from the public accounts statistics in the next quarter virtually ensures that the entire deficit for 2017 will probably be under the 1.4% forecast at the 2018 State Budget.

These public accounts figures are very well but Portugal’s general debt is a mountainous 130.8 percent of GDP.

Greece is far further in debt in 177.4 percent of GDP and Italy’s is greater than Portugal’s in 177.4 percent although the eurozone average is just 88.1 percent, demonstrating Portugal needs to now cover off a substantial quantity of debt prior to being considered a solid economy which may bring grade A investors and prior to paying reduced prices for its general borrowing.