Deficit improves by €453 million says figures up to May

Despite the flak it has been getting, Portugal’s government has revealed new data to show the budget deficit has improved by €453 million. Figures for May show public accounts were fixed at a deficit of €395 million in May, when the same time last year they stood at €858 million. The finance ministry justified the improvement with a 1.6% increase in revenue and “stabilisation of spending” by 0.1%.