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INE releases today the 2023 public expenditure
The National Institute of Statistics (INE) today releases the public expenditure registered last year, after reaching 107 billion euros in 2022.
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Economia INE
The statistics agency releases today the preliminary data on the public expenditure of 2023.
In 2022, the public expenditure reached 107.1 billion euros, corresponding to 44.8% of the Gross Domestic Product (GDP), 2.9 percentage points less than in 2021.
However, compared to 2021, the public expenditure increased 4.4% in nominal terms, since it had been set at 102.5 billion euros the previous year.
According to the INE, the growth in nominal terms resulted from the increase in the budgetary effort associated with the mitigation measures of the impacts of the geopolitical shock and inflation on the Portuguese economy, with increases in salaries (3.5%), intermediate consumption (8.8%) and social benefits (7.4%).
In turn, investment rose 7.7% (430 million euros more than in 2021), after having already increased 17.5% and 28.3% in 2021 and 2020, respectively.
On the other hand, the charges with property income -- which mainly correspond to interest paid -- decreased again (-9.4%, compared to 2021), reaching for the first time, since 2006, a nominal value of less than five billion euros.
Despite the nominal increase, the weight of public expenditure in the GDP in 2022 was 2.9 percentage points lower than in 2021, standing at 44.8%, corresponding to six percentage points less than the value for the eurozone countries as a whole.
The INE pointed out, however, that last year, if the comparison is made with the simple average of the weights of expenditure in the GDP of the various countries in the euro area, Portugal presents "close values in the last five years".
According to the INE, social benefits were the item of the economic classification with the highest relative weight, representing 41.7% of the total expenditure, while the salaries paid corresponded to 24.1% of that total.
Read Also: PCP wants to know where the Government plans to cut 2.8 billion in expenditure (Portuguese version)
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