Carlos da Silva Costa: Sovereign debt crisis, risks or opportunities Address by Mr Carlos da Silva Costa, Governor of the Bank of Portugal, at the 2nd ReutersTSF Conference: “Sovereign debt crisis, risks or opportunities”, Lisbon, 28 February 2011.
*  *  *  According to the latest data available for 2010, the Portuguese economic situation can be summarised as follows:   A fiscal deficit estimated at around 7% of GDP compared with deficits of 6.3% in the euro area and 10.5% in the UK;    A public debt around 83% of GDP, compared with 84.1% in the euro area;    A growth rate of 1.4% in 2010, compared with 1.8% in the euro area;    Financing needs of the Portuguese economy as measured by the combined current and capital account amounting to 8.7% of GDP in 2010;    A net debtor international investment position above 100% of GDP, and a net external debt equivalent to 85.3% of GDP in 2010, of which 48.0% corresponds to the general government sector.