"Considering the first halves of 2025 and 2026, there was a decrease in the balance in public accounting and in national accounting, although less significant in the balance in national accounting," indicates the INE, adding that in national accounts, the balance stood at 0.5% of GDP.

According to the statistics office, capital injections and debt assumption in the first half of 2026 "were, in their entirety, destined for entities in the UC sector, without impacting the aggregate balance."

It also highlights that, due to the tax instalment measures established in the ICMS code, an adjustment was made to the collection of taxes on production and imports in the period in which the payment obligation arose, also taking into account the implementation of exceptional tax deferral measures.

In quarterly terms, the balance of public administrations in the second quarter of 2026 was 1,325 million euros, or 1.6% of GDP, compared with 1.7% in the same period last year, according to the INE (National Institute of Statistics).

Total revenue rose 6.9% and total expenditure rose 7% in the second quarter, compared with the same period last year.

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