February 5, 2016, 15:05 Brussels, February 5 (PL) European Commission required Portugal greater consolidation of its fiscal accounts by granting today approved the budget of the country by 2016.
As confirmed by the Commissioner for Monetary Affairs of the European Union (EU), Pierre Moscovici, the approval by the Community body claimed to Lisbon a number of safeguards, because “the risks have not been eliminated,” he said.
Control will be repeated in the spring (boreal), considering the complex financial situation, the official confirmed.
currently this Iberian nation has the third largest public debt in the EU in recent years was object of an alleged bailout for about 85 billion dollars from the eurozone and the International Monetary Fund.
the guarantee given on Friday by the European Commission provides that Portugal apply new measures in 2016 savings worth about one billion euros.
according to the controversial view, the Portuguese Administration will increase taxes on snuff and petroleum products will increase the tax burden on banking and tax will raise the paid by low-income workers to Social Security.
Speaking to the press, the Portuguese Finance Minister Mário Centeno, explained that the outlines of the budget must be debated and approved by the national parliament 22 and 23 February.
About the behavior of the fiscal deficit, the official said that the authorities in his country “note the warning” from Brussels, but considered that Portugal “is not the only” country of the European Union with similar notice. In light government project, Portugal’s gross domestic product in 2016 is expected to grow 1.8 percent, with a fiscal deficit of 2.2 percent.
While unemployment will fall one percentage point, to 11.3 percent, and public debt will stand at 127.7 percent, said Centeno
rc / mjm.
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