Infographics | Biden maintains an advantage of almost 10 points, but the race still has many corners
The average national poll of Americans' voting intentions for the November 3 presidential vote has put Democrat Joe Biden close to 10 points ahead of Republican Donald Trump.
There are three countries that expect a smaller budget deficit than Portugal next year and one that projects an equal deficit, Germany (-4,3% of GDP). In the 2021 budget drafts sent to Brussels, all countries predict budget deficits, with Spain reaching the highest level next year (-7,7% of GDP). Only Cyprus, until the close of this edition, had not sent the budget draft.
The economic crisis caused by the Covid-19 pandemic is not a sovereign debt crisis, but it forced governments in developed economies to increase leverage in 2020. Spending on protection or stimulus measures will, in most cases, prevent a return to pre-pandemic levels as early as 2021.
Public expenditure is reinforced in the ministries of Health and Solidarity, most affected by the health crisis, as in Education, Higher Education and also Infrastructure and Housing. In a State Budget without major news for the economic portfolios, the greatest need for restraint also involves those that have sovereign functions, such as Defense, Justice, Internal Administration and Foreign Affairs.
The road was on its way, but the pandemic brought a tsnunami to public accounts. After a budgetary surplus last year - earlier than expected by the Government - the deficit-to-GDP ratio is expected to reach the highest percentage since 2014, the year BES resolved. For 2021, the Government already estimates the budget deficit to be 4,3% of GDP, an improvement of 3 pp of GDP compared to 2020.
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