A “shine” by Miranda Sarmento – who speaks of “good news to the country”

Three tenths above: INE reviewed the balance of public accounts. They are “good results” and now there is more “margin,” says minister.

Portugal closed 2024 with a budget surplus of 0.7% of Gross Domestic Product (GDP), in National Accounting, above 0.4% estimated by the governmentaccording to those released today by the National Institute of Statistics (INE).

“The positive balance of the Public Administration (AP) sector, in a percentage of GDP, was set at 0.7% in the year ending in the 4th quarter of 2024, equal to that observed in the previous quarter (1.2% in 2023),” in national accounts per institutional sector.

This quarterly evolution was due to a expense increase (0.9%) identical to increased revenue (0.9%). In the state fit, it should be noted that current revenue rose 1.3%, which “reflects increases from all its components, except for taxes on income and heritage (-2.2%)”, due to the application of new IRS retention tables at source.

In the expense, INE stressed the 2.1% increase in current expense and a decrease of 11.1% of capital expense.

The surplus of 0.7% was above the projected in the state budget to 2025 (OE2025), which was 0.4% – but still the Government maintains the forecast of a budget balance of 0.3% for this year.

Joaquim Miranda Sarmento made a “shine”summarizes the. And was pleased: “I think they are Good results for the country. Compared to 2024, the surplus exceeds government expectations especially because the Portuguese economy had a greater development ”.

“We have good news From the point of view of budgetary execution, there is a robust surplus that allows us to continue to reduce public debt consistently, ”the minister continued.

O public debt ratio compared to Gross Domestic Product (GDP) stood in 94,9% In 2024, the lower value since 2009 (87.6%) and below the state budget forecast (OE), 95.9%.

At a press conference, the finance minister commented that there is now “margin to propose new measures that a year ago was not possible“, Defended the minister, still except that the surplus” is nothing but from one year to the next, allowed him to have had a descent of the more pronounced public debt compared to what the predictions were. “

Asked about the military tension living in the world, these days Miranda Sarmento argued that Portugal could benefit from the flexibility of budget rules to Increase the expense in defensebut that this commitment cannot question the budgetary equilibrium.

“Of course there is some margin to be able to anticipate, because the budget rules will be relaxed and so Portugal may also benefit. But this biggest defense commitment cannot question the government’s budget balance and purpose of maintaining surpluses around 0.3% or 0.2% of GDP,” he warned.