SYNTHESIS [email protected], 29-juN-2020

June . 29 . 2020 page 3/5 Communication Unit | tel: +351 21 842 61 00 | [email protected] www.ine.pt SYNTH SIS IN @ COVID-19 Net lending of the economy decreased to 0.6% of GDP in the 1 st quarter of 2020 The net lending of the economy stood at 0.6% of Gross Domestic Product (GDP) (+0.8% in the previous quarter). Gross Disposable Income (GNI) and nominal GDP remained unchanged this quarter, while Gross National Income (GNI) decreased by 0.1%, reflecting the economic impacts of the COVID-19 pandemic in March. Net Lending(+) /Borrowing(-) by institutional sector (in % of GDP, accumulated sum of 4 quarters) -3.5% 2.5% 0.2% 1.6% 0.8% -3.8% 2.4% -0.1% 2.1% 0.6% -5.0% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% Non-Financial Corporations th 4 Quarter 2019 st 1 Quarter 2020 Financial Corporations General Government Household and NPISH Total Economy Non-Financial Corporations The balance of Non-Financial Corporations stood at -3.8% of GDP (-3.5% in the previous quarter), mostly due to the 0.4% reduction in nominal Gross Value Added (GVA) (1.2% in the previous quarter). The Gross Fixed Capital Formation (GFCF) declined by 0.2%, setting the investment rate (measured as the ratio between GFCF and GVA) at 25.7%, more 0.1 percentage points (p.p.) than in the previous quarter. Financial Corporations The net lending of Financial Corporations decreased to 2.4% of GDP (2.5% in the previous quarter). General Government The net balance of the General Government (GG) stood at -0.1% of GDP (+0.2% in the previous quarter) as a result of a higher increase in expenditure (+0.9%) than in revenue (+0.2%). The increase in expenditure resulted from: • +4.2% in capital expenditure; • +0.7% in current expenditure. The increase in expenditure resulted from: • +0.2% in current revenue; • +2,7% in capital revenue.

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