New Delhi -°C
Today in New Delhi, India

Oct 22, 2020-Thursday
-°C

Humidity
-

Wind
-

Select Country
Select city
ADVERTISEMENT
Home / Business News / Portugal second-quarter budget deficit spikes to 10.5% due to pandemic

Portugal second-quarter budget deficit spikes to 10.5% due to pandemic

Portugal’s budget deficit soared to 10.5% of gross domestic product (GDP) in the second quarter of 2020 from 2.2% a year earlier due to the impact of the coronavirus pandemic, official data showed on Wednesday.

business Updated: Sep 23, 2020, 16:08 IST
Reuters | Posted by Niyati Singh
Reuters | Posted by Niyati Singh
Lisbon
A man wearing a face mask crosses a street in Lisbon on September 22, 2020.
A man wearing a face mask crosses a street in Lisbon on September 22, 2020.(AFP photo)

Portugal’s budget deficit soared to 10.5% of gross domestic product (GDP) in the second quarter of 2020 from 2.2% a year earlier due to the impact of the coronavirus pandemic, official data showed on Wednesday.

The National Statistics Institute also said the country expected a budget deficit of 7% of GDP in 2020 as a whole compared to a surplus of 0.1% last year, which was the first in more than four decades of Portuguese democracy.

tags
ht epaper

Sign In to continue reading