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Portuguese gov't deficit falls to 3.9 bln euros in Aug.

Xinhua, September 27, 2016 Adjust font size:

Portugal's government deficit dropped to 3.9 billion euros (4.3 billion U.S. dollars) up to August this year, the Ministry of Finance said Monday.

The deficit was 81 million euros less than in the same period of 2015, it added.

"In the month of August, the deficit of the government maintained a favorable outlook observed since the beginning of the year," said an official statement.

The reduction was obtained due to revenue increasing 1.3 percent. Compared to July 2016, the deficit improved by 99.1 million euros.

Portugal recently avoided an European Union (EU) sanction for missing its 3 percent deficit to gross domestic product (GDP) threshold last year. The government has said the deficit would be reduced to below 2.5 percent, though the IMF forecast the deficit would be 3 percent this year. Endit