PORTUGAL'S 2012 budget deficit leapt to 6.4 per cent of the nation's total output, from 4.4 per cent one year earlier as the heavily indebted eurozone member struggles to raise revenues and cut spending amid recession and soaring unemployment, national statistics institute Ine says.
The figure, calculated according to standards used by the EU's statistics office Eurostat, did not include revenue from the sale of a state holding in the Portuguese airport operator however, and therefore far exceeded the five per cent target set by the government and its international creditors, the European Commission and the International Monetary Fund.
They granted a financial rescue package worth 78 billion euros ($A96 billion) in May 2011.
Portugal's public debt rose to 204.4 billion euros meanwhile, equivalent to 123.6 per cent of gross domestic product last year, from 108.3 per cent of GDP in 2011, the Ine data showed.
EU countries are not supposed to run deficits of more than three per cent of GDP, and are expected to keep debt to no more than 60 per cent of GDP.
Earlier this month, Finance Minister Vitor Gaspar said Eurostat had rejected a request to use proceeds from the sale of airport operator ANA-Aeroportos de Portugal to cut the deficit. Had that had been allowed, it would have met the 2012 target at 4.9 per cent of GDP, Gaspar said.
The country managed to reduce the number to 4.4 per cent in 2011 through an exceptional measure that consisted of transferring funds set aside by banks for their staff pension funds to public coffers.
Despite boosting taxes and cutting public wages since the EU-IMF bailout, Portugal has struggled to cut the deficit.
But in light of a deteriorating economic situation, climbing unemployment and widespread public protests against austerity measures, Lisbon has been granted an extra year to bring the deficit in line with EU regulations.
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