Portugal spent around 2.8% of its gross domestic product on fiscal measures to combat the pandemic, compared to the Eurozone average of 4%, according to a new report from the European Central Bank.
Spain and Finland have so far spent even smaller fractions of their GDPs on COVID-related measures, while Lithuania leads the list of Eurozone countries, having spent around 6.5% of its GDP, while Italy spent approximately 5.5%.
But measures taken in 2020 in Portugal to fight the pandemic were broader than the government’s intervention in the 2009 financial crisis, when the country spent a little over 1% of its GDP.
