Portugal Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Portugal's budget deficit was 0.15% in 2025, ranked 31st globally. This represents a 78.3% decrease from 2024. Data from IMF WEO, covering 1986–2025.
Overview
Portugal's budget deficit stood at 0.15% in 2025, a decline of +0.55% from 2024. The IMF projects 0.15% by 2025. Portugal ranked 31st globally.
Portugal's budget deficit has experienced significant fluctuations over the past four decades. The country's budget deficit peaked at 1.21% of GDP in 2023, a marked increase from its all-time trough of -11.42% in 2010, when the global financial crisis prompted a massive fiscal stimulus. The deficit has since narrowed, settling at 0.15% of GDP in 2025, ranking Portugal 31st globally in terms of budget deficit as a percentage of GDP. This trend is comparable to that of Switzerland, which has a similar budget deficit of 0.26% of GDP. In contrast, Turkmenistan boasts a significantly lower deficit of 0.07% of GDP, while Argentina's deficit of 0.39% of GDP exceeds Portugal's. The narrowing of the budget deficit in Portugal suggests a positive trend, but a significant increase in government spending or a decline in revenue could alter the trajectory of the deficit, potentially leading to a resurgence in red ink.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -0.91% | - | - |
| 2029* IMF | -0.68% | - | - |
| 2028* IMF | -0.55% | - | - |
| 2027* IMF | -0.23% | - | - |
| 2026* IMF | 0.04% | - | - |
| 2025* IMF | 0.15% | - | - |
| 2025 | 0.15% | −0.55% | #31 |
| 2024 | 0.70% | −0.51% | #158 |
| 2023 | 1.21% | +1.52% | #163 |
| 2022 | -0.31% | +2.51% | #136 |
| 2021 | -2.83% | +2.93% | #118 |
| 2020 | -5.75% | −5.87% | #98 |
| 2019 | 0.12% | +0.54% | #139 |
| 2018 | -0.43% | +2.58% | #125 |
| 2017 | -3.00% | −1.06% | #72 |
| 2016 | -1.94% | +2.43% | #110 |
| 2015 | -4.37% | +2.94% | #58 |
| 2014 | -7.32% | −2.10% | #13 |
| 2013 | -5.21% | +0.99% | #35 |
| 2012 | -6.20% | +1.53% | #30 |
| 2011 | -7.73% | +3.69% | #15 |
Detected Pattern
Analysis
Portugal matched the Export Boom Cycle pattern in 2024. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Portugal's budget deficit was 0.15% in 2025. Ranked 31st globally. This represents a 78.3% decrease from the previous year.
Portugal's budget deficit peaked at 1.21% in 2023.
The lowest budget deficit in Portugal was -11.42% in 2010.
Portugal ranks 31st globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Portugal's budget deficit is projected to reach 0.15% by 2025 based on IMF projection.
The budget deficit of Portugal in 2025 was 0.15%. This ranks 31st in the world.
Cite this page
@misc{historysaid_portugal_budget-deficit,
title = {Portugal Budget Deficit},
url = {https://historysaid.com/portugal/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}