Data from the European statistical body reveal that, from an unadjusted perspective, the average for the Eurozone recorded a deficit of 4.1% of Gross Domestic Product (GDP), and for the European Union a negative balance of 3.8% of GDP.

Portugal (-0.2%) recorded the sixth worst result among all the balances of single-currency countries, but it was the best among those that had a budget deficit.

Only Ireland, Cyprus, Latvia, Luxembourg, and the Netherlands achieved a positive budget balance. Among the countries with the highest deficit, Belgium (-9.6%) and France (-6.9%) stand out.

Looking at seasonally adjusted data, in the first three months of the year, the Eurozone's average deficit was 3.2% and the European Union's was 3%, with Portugal presenting the third largest surplus (0.6%).