March Budget Surplus Shrinks to €209 Million as €1.06 Billion in SNS Debt-Regularization Hits the Books — IRC Drops 25.4%, Investment Spending Climbs 53.6%, and the Headline Hides a Real Improvement
Portugal's March surplus fell €1.4bn YoY to €209M as a €1.06bn SNS debt-regularization payment landed in the month. Strip the one-off and the shortfall narrows to €340M; IRC collections fell 25.4%, investment spending jumped 53.6%, social contributions climbed 7.4%.