Expenditure and revenue

Find out in detail about the government's rendering of accounts, through the General State Account, representing the final outturn of revenue and expenditure.

On this page

Final Implementation Accounts Section containing graph.
Running the accounts
Balance between expenditure and revenue Section containing graph.
Expenditure and revenue in detail Section containing graph.
The Portuguese public debt
Evolution of the public debt percentage in relation to GDP Section containing graph.
Technically speaking...

From what stage of the budget cycle is this information?

01 02 03

Result

The Government clears the final accounts of the budget and produces the General State Account, summarizing all the data on the execution of expenditure and revenue for the twelve months of the respective year.

State budget over the years

Select a year to view information from any State Budget.

2019
2020
2021
2022

Final Implementation Accounts

Once the annual State Budget exercise is over, time is ripe to consolidate the public accounts and analyse the final numbers. Each year, the State Budget provides a certain outlook for financial development, and it is only in the General State Account that its real implementation can be discerned.

To help make it easier to read the key figures on the General State Account, below are its main and most important indicators.

The essential numbers on 2021 expenditure and revenue

The Central Administration ended the year with a revenue, a expenditure and a balance of...

63,84 billion €

Revenue

74,47 billion €

Expenditure

-10,62 billion €

Balance

Technically speaking...

The figures presented as revenue, expenditure and balance are actual numbers, with the State's financial liabilities and assets removed from the books.

It is crucial to add the Social Security balance to the Central Administration one (deficit when negative)...

Central administration

-10,62 billion €

Balance

Social Security

2,33 billion €

Balance

Central Administration + Social Security

-8,29 billion €

Balance

Technically speaking...

It should be made clear that the parliamentary discussion of the State Budget and its approval by the Assembly of the Republic centres on the forecast and actual balance of Central Administration and Social Security.

For a comprehensive overview of public accounts, integrating Regional and Local Administrations is also important...

Central Administration + Social Security

-8,29 billion €

Balance

Regional and Local Administrations

-348,71 million €

Balance

Public Administrations

-8,64 billion €

Balance

Technically speaking...

Whilst being separate budgets from the State Budget for Central Administration and Social Security, analysing public accounts should always include Regional and Local Administrations.

It is equally important in public accounts to keep track of all the adjustments for the year undertaken by Portugal...

Public Administrations

-8,64 billion €

Balance

Year adjustments

2,67 billion €

Balance

Technically speaking...

By "adjustments for the year" is meant all the liabilities incurred in the same year. This item also includes other accounting adjustments required to arrive at the final balance.

The benchmark balance (deficit when negative) is the sum of the Public Administration balance and the figure representing the adjustments for the year...

Public Administrations

-8,64 billion €

Balance

Public Accounting

Year adjustments

2,67 billion €

Balance

Public Administrations

-5,98 billion €

Balance

National Accounting

Technically speaking...

Two perspectives are possible when looking at the public accounts and the balance (deficit when negative) of the Public Administration: Public Accounting (referring to cash flows) and National Accounting (concerning the commitments and operations undertaken in a year).

If the budget has a deficit (negative balance), this figure increases the expected size of the Portuguese public debt...

€

5,98 billion €

2021 Deficit

269,23 billion €

Public debt of 2021

Technically speaking...

Public debt is the money accumulated over the years that the State owes abroad and to the country itself. To correctly incorporate the deficit into the public debt, the only way forward is to employ a National Accounts perspective, with all its technical implications. These data may be reviewed annually, in September, by the National Statistics Institute.

Running the accounts

By consolidating all the information relating to the annual balance of Portugal's accounts, the General State Account reflects the difference between the revenue obtained and the expenditure incurred.

Balance between expenditure and revenue

Chart

Source DGO

Update 31.12.2022

Balance between expenditure and revenue

Table

Balance between expenditure and revenue
State Budget Year	Forecast expenditure	Executed expenditure	Forecast revenue	Raised revenue
2021	76449200000 €	74466400000 €	64687300000 €	63843700000 €
2020	0 €	72650200000 €	0 €	59036200000 €

Balance between expenditure and revenue

Table

State Budget Year

2021

Forecast expenditure

Executed expenditure

Forecast revenue

Raised revenue

State Budget Year

2020

Forecast expenditure

Executed expenditure

Forecast revenue

Raised revenue

Source DGO

Update 31.12.2022

Expenditure and revenue in detail

Expenditure Revenue

Expenditure amount already executed

Chart

Source DGO

Update 31.12.2022

Expenditure amount already executed

Table

Expenditure amount already executed
Expenditure	Expected value	Executed amount
Current transfers	28416100000 €	30173700000 €
Expenditure on personnel	18721100000 €	18714000000 €
Acquisition of current goods and services	11700200000 €	11373000000 €
Interest and other credit charges	7082700000 €	6796700000 €
Expenses with investments in assets (equipment, buildings)	5132900000 €	3423900000 €
Other Current expenditure	2037400000 €	637700000 €
Transfers to investments	1899300000 €	1900200000 €
Subsidies	1201900000 €	1111800000 €
Other investment expenses	162800000 €	149800000 €
Consolidation accounting adjustments	94800000 €	185600000 €
Total	76449200000 €	74466400000 €

Expenditure amount already executed

Table

Expenditure

Current transfers

Expected value

Executed amount

Expenditure

Expenditure on personnel

Expected value

Executed amount

Expenditure

Acquisition of current goods and services

Expected value

Executed amount

Expenditure

Interest and other credit charges

Expected value

Executed amount

Expenditure

Expenses with investments in assets (equipment, buildings)

Expected value

Executed amount

Expenditure

Other Current expenditure

Expected value

Executed amount

Expenditure

Transfers to investments

Expected value

Executed amount

Expenditure

Subsidies

Expected value

Executed amount

Expenditure

Other investment expenses

Expected value

Executed amount

Expenditure

Consolidation accounting adjustments

Expected value

Executed amount

Total

Expected value

Executed amount

Source DGO

Update 31.12.2022

Revenue raised

Chart

Source DGO

Update 31.12.2022

Revenue raised

Table

Revenue raised
Revenue	Expected value	Raised value
Indirect taxes	25416100000 €	26202000000 €
Income taxes (IRS, IRC, IMI...)	19051600000 €	19956900000 €
Acquisition of current goods and services	3955400000 €	3118600000 €
Current transfers	3933600000 €	3580200000 €
Contributions to Social Security, CGA e ADSE	3912900000 €	4251800000 €
Fees, fines and other penalties	3175000000 €	3333800000 €
Transfers to investments	2616600000 €	1020900000 €
Property income (interest, dividends, rent)	985200000 €	990100000 €
Other revenue	856200000 €	681900000 €
Sale of state assets	359800000 €	154400000 €
Money to be transferred to the European Union	247300000 €	238300000 €
Consolidation accounting adjustments	101800000 €	52300000 €
Recovery of overpayments from previous years	44400000 €	235700000 €
State compensation and other revenue	31400000 €	26800000 €
Total	64687300000 €	63843700000 €

Revenue raised

Table

Revenue

Indirect taxes

Expected value

Raised value

Revenue

Income taxes (IRS, IRC, IMI...)

Expected value

Raised value

Revenue

Acquisition of current goods and services

Expected value

Raised value

Revenue

Current transfers

Expected value

Raised value

Revenue

Contributions to Social Security, CGA e ADSE

Expected value

Raised value

Revenue

Fees, fines and other penalties

Expected value

Raised value

Revenue

Transfers to investments

Expected value

Raised value

Revenue

Property income (interest, dividends, rent)

Expected value

Raised value

Revenue

Other revenue

Expected value

Raised value

Revenue

Sale of state assets

Expected value

Raised value

Revenue

Money to be transferred to the European Union

Expected value

Raised value

Revenue

Consolidation accounting adjustments

Expected value

Raised value

Revenue

Recovery of overpayments from previous years

Expected value

Raised value

Revenue

State compensation and other revenue

Expected value

Raised value

Total

Expected value

Raised value

Source DGO

Update 31.12.2022

The Portuguese public debt

Public debt is among the most significant and widely cited indicators when it comes to assessing a country's financial soundness. Briefly, it reflects the percentage of debt that the country needs to incur to cover its expenses, when compared to its wealth output, express as the Gross Domestic Product (GDP).

Whilst analysing this indicator in the General State Account, the percentage of public debt in relation to GDP, especially in a budgetary context, it is important to always bear in mind its evolution over time.