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Portuguese gov't budgetary deficit decreases to 5.8 pct of GDP in Q1

Xinhua, June 24, 2015 Adjust font size:

Portugal's government budgetary deficit was 5.8 percent of Gross Domestic Product (GDP) in the first quarter of this year, or around 2,444 million euros (2,736 million U.S. dollars), the Portuguese National Institute of Statistics (INE) revealed on Wednesday.

According to figures by the INE, the country's deficit in the same period last year was 5.9 percent.

The INE said in the first three months of this year it registered "a more pronounced increase in revenue compared with expenditure."

The Portuguese government has insisted that the country will manage to bring its budget deficit down to below 3 percent of GDP this year. Endit