Portugal recorded a historic budget surplus of 1,2% last year, which exceeds the Ministry of Finance's official forecast of 0,8%, according to data released today by the National Statistics Institute (INE).
The result reflects an improvement in public accounts compared to the deficit of 0,3% of the Gross Domestic Product (GDP) recorded in 2022.
The 2023 surplus exceeds that of 2019 (0,1%), the year in which former Finance Minister Mário Centeno entered the country's economic history as the first ruler in Terreiro do Paço to achieve a positive budget balance since 1974.
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