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

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.

From what stage of the budget cycle is this information?

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
  • 2023

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 2023 expenditure and revenue

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

83,2 billion €

Revenue

81,31 billion €

Expenditure

=

1,89 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 (surplus when positive)...

Central administration

1,89 billion €

Balance

Social Security

5,48 billion €

Balance

=

Central Administration + Social Security

7,37 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

7,37 billion €

Balance

Regional and Local Administrations

216,15 million €

Balance

=

Public Administrations

7,59 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

7,59 billion €

Balance

Year adjustments

-4,39 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 Administrations

7,59 billion €

Balance

Public Accounting

Public Accounting

Year adjustments

-4,39 billion €

Balance

=

Public Administrations

3,19 billion €

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 Administrations, this amount can be deducted from the Portuguese public debt...

€

3,19 billion €

2023 Surplus

263,08 billion €

Public debt of 2023

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 EO
31.12.2023

Balance between expenditure and revenue

Table
State Budget Year Forecast expenditure Executed expenditure Forecast revenue Raised revenue
2023
2022

Balance between expenditure and revenue

Table

State Budget Year

2023

Forecast expenditure

Executed expenditure

Forecast revenue

Raised revenue

State Budget Year

2022

Forecast expenditure

Executed expenditure

Forecast revenue

Raised revenue

Source EO
31.12.2023

Expenditure and revenue in detail

Expenditure amount already executed

Chart
Source EO
31.12.2023

Expenditure amount already executed

Table
Expenditure Expected value Executed amount
Current transfers
Expenditure on personnel
Acquisition of current goods and services
Interest and other credit charges
Expenses with investments in assets (equipment, buildings)
Other Current expenditure
Transfers to investments
Subsidies
Other investment expenses
Consolidation accounting adjustments
Total

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 EO
31.12.2023

Revenue raised

Chart
Source EO
31.12.2023

Revenue raised

Table
Revenue Expected value Raised value
Indirect taxes
Income taxes (IRS, IRC, IMI...)
Current transfers
Acquisition of current goods and services
Transfers to investments
Contributions to Social Security, CGA e ADSE
Fees, fines and other penalties
Property income (interest, dividends, rent)
Other revenue
Money to be transferred to the European Union
Sale of state assets
Recovery of overpayments from previous years
State compensation and other revenue
Consolidation accounting adjustments
Total

Revenue raised

Table

Revenue

Indirect taxes

Expected value

Raised value

Revenue

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

Expected value

Raised value

Revenue

Current transfers

Expected value

Raised value

Revenue

Acquisition of current goods and services

Expected value

Raised value

Revenue

Transfers to investments

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

Property income (interest, dividends, rent)

Expected value

Raised value

Revenue

Other revenue

Expected value

Raised value

Revenue

Money to be transferred to the European Union

Expected value

Raised value

Revenue

Sale of state assets

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

Revenue

Consolidation accounting adjustments

Expected value

Raised value

Total

Expected value

Raised value

Source EO
31.12.2023

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.

Evolution of the public debt percentage in relation to GDP

Chart
Source Banco de Portugal
31.12.2023

Evolution of the public debt percentage in relation to GDP

Table
Year Percentage of public debt
2019
2020
2021
2022
2023

Evolution of the public debt percentage in relation to GDP

Table

Year

2019

Percentage of public debt

Year

2020

Percentage of public debt

Year

2021

Percentage of public debt

Year

2022

Percentage of public debt

Year

2023

Percentage of public debt

Source Banco de Portugal
31.12.2023

Technically speaking...

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

General State Account of Central Administration

Budget Entity

General State Account of Public Administrations

Budget Entity

Opinions on the General State Account

Audit Office