The balance of payments of the deficit, was 20 times higher in the first half of the year, than for the same period of time last year.

Balance of payments deficit 

was 20 times higher in the first half of the year. 

The external accounts of Portugal continue to worsen 

after two years of great recovery during the previous governance 

of Passos de Coelho/Paulo Portas. 

A higher basis of calculation based on domestic consumption, 

is making life difficult for national accounts.

The first six months of the year 

brought the accounts of the balance of payments 

to a much worse reality than that recorded last year.

"In the first half of 2016, 

the combined current and capital account stood at -933 million euros, 

compared with a balance of -49 million euros for the same period during 2015," 

according to the statistical bulletin released this morning by the Bank of Portugal.

The rise in the deficit is equivalent to an increase of almost 20 times 

compared to the figures of the first six months of last year. 

To make the reality of  matters worse, 

"all components of the current account and of capital, 

contributed to the deterioration of the balance, 

except for the balance of goods and services."

With the economy going downhill at an ever increasing speed, 

Portugal is fast heading towards another economical and financial disaster. 

The spin doctors, the Minister of Finance, Mário Centeno and the PM, António Costa, 

are happily surfing the waves of euphoria, of disillusion and unreality, 

by saying and convincing international agencies 

that everything is ok with the balance sheets of Portugal´s finances, 

TOTAL LIES!!

Figures speak for themselves. 

With a deficit 20 times higher than the deficit at the same time last year, 

with NO ECONOMIC GROWTH, 

or even prospects of the faintest signs of economic growth on the horizon, 

Portugal should buckle up its seatbelts for a turbulent, disastrous landing

into reality!