Information portal on various topics of management of public resources of the Portuguese State

Expenditure and revenue

Find out how the expenditure and revenue forecasts in the State Budget influence the annual balance sheet of Portuguese finances.

From what stage of the budget cycle is this information?

Planning

Discussion and preparation of a strategy of objectives, political priorities and forecasts for the distribution of resources together with all Ministries and Public Entities.

State budget over the years
Select a year to view information from any State Budget.
  • 2021
  • 2022
  • 2023
  • 2024
  • 2025
  • 2026

Forecasting, interpreting the numbers

The data on the country's account planning, disclosed in the State Budget, can be looked at from many different angles, depending on the accounting perspective, the nature of the entities involved or the depth of the analysis.

When referring to the State Budget data, the expenditure and revenue forecasts for the Ministries and Social Security are viewed from a pure cash or public accounting perspective, i.e. encompassing the expected receipts and payments.

The essential numbers on 2026 expenditure and revenue

This year, the Central Administration is forecasting revenue, a expenditure and a balance of...

96,02 billion €

Revenue

104,25 billion €

Expenditure

=

-8,23 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

-8,23 billion €

Balance

Social Security

6,44 billion €

Balance

=

Central Administration + Social Security

-1,79 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

-1,79 billion €

Balance

Regional and Local Administrations

814,78 million €

Balance

=

Public Administration

-975,06 million €

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 Administration

-975,06 million €

Balance

Year adjustments

1,24 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 (surplus when positive) is the sum of the Public Administration balance and the figure representing the adjustments for the year...

Public Administration

-975,06 million €

Balance

Public Accounting

Public Accounting

Year adjustments

1,24 billion €

Balance

=

Public Administration

262,59 million €

Balance

National Accounting

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 there is a surplus (positive balance) in the Public Administration, this amount can be deducted from the Portuguese public debt...

€

262,59 million €

2026 Surplus

281,53 billion €

Public debt of 2026

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.

Expenditure and revenue forecasts

Estimates of State expenditure and revenue may have two possible readings. Central Administration, for any information relating solely to the central State (Ministries). Public Administration, including not just the Central Government, but also Social Security, Regional and Local Administration.

To simplify the interpretation of these figures, we hereby provide the actual numbers for one of these areas, the Central Administration, viewed from a Public Accounting perspective.

Expected expenditure and revenue figures

Chart
Source EO
31.12.2026

Expected expenditure and revenue figures

Table
State Budget Year Expenditure Revenue Balance
2026
2025

Expected expenditure and revenue figures

Table

State Budget Year

2026

Expenditure

Revenue

Balance

State Budget Year

2025

Expenditure

Revenue

Balance

Source EO
31.12.2026

Expenditure and revenue in detail

Functional characterisation of expenditure

The functional characterisation of expenditure is one of several possible categories when interpreting the State Budget's expenditure forecast. It is essentially a description of thematic areas (functions), allowing for a more across-the-board analysis of state spending, regardless of the ministries involved.

This approach to characterising expenditure allows for an integrated and evolving view over the years, as well as comparisons between the different member states of the European Union and others.

Expected expenditure figures by function

Chart
2026
2025
Source EO
31.12.2026

Expected expenditure figures by function

Table
Function 2026 2025
Serviços gerais das Administrações Públicas
Health
Social protection
Economic affairs
Education
Security and public order
Defense
Environmental protection
Housing and collective infrastructure
Sport, recreation, culture and religion
Consolidation accounting adjustments
Total

Expected expenditure figures by function

Table

Function

Serviços gerais das Administrações Públicas

2026

2025

Function

Health

2026

2025

Function

Social protection

2026

2025

Function

Economic affairs

2026

2025

Function

Education

2026

2025

Function

Security and public order

2026

2025

Function

Defense

2026

2025

Function

Environmental protection

2026

2025

Function

Housing and collective infrastructure

2026

2025

Function

Sport, recreation, culture and religion

2026

2025

Function

Consolidation accounting adjustments

2026

2025

Total

2026

2025

Source EO
31.12.2026

Technically speaking...

To complete all the information presented here, we advise you to consult additional data on other platforms outside the portal.

All OE numbers for Central Administration and Social Security

Budget Entity

Detailed data on the State Budget

Budget Entity

State budget and public accounts

Assembly of the Republic