Portugal eliminates some of the austerity measures – The Sun of Mexico

LISBON, Portugal. (AP).- The Government centroizquierdista of Portugal is eliminating some austerity measures, to the time that promises to continue cutting the fiscal deficit, as part of its effort to reduce the huge public debt.

The Government said yesterday that it will reopen some public services in rural areas that were closed to save money when Portugal came to the brink of bankruptcy in 2011 and had to ask for a rescue loan of 78 billion euros (85 thousand 500 million dollars).

Plans to reopen 20 courts, expand the network of educational institutions and rural build 14 centers of health new.

Although it is one of the smaller economies of the European Union (EU), Portugal has attracted the attention of international investors because it uses the euro. The markets fear that their economic hardships prevent the efforts of the block to generate wealth.

The Executive Commission of the EU has shown to be intransigent with Portugal, which requires it to reduce its deficit year-on-year.

Portugal has not had problems to obtain funds in the financial markets, despite the fact that the rating agency DBRS, with headquarters in Toronto, is the only major that did not reduce the rating of the Portuguese bond scrap during the rescue.

DBRS expected to announce a review of qualification for the Portuguese today, Friday, although the minister of Finance, Mario Centeno, said after a meeting with the agency at the beginning of the month, which did not foresee any changes.

Lisbon needs a good rating from at least one agency to be able to participate in a stimulus program the European Central Bank (ECB).

The Socialist Party is in power thanks to the support in Parliament of the Communist Party and the Left Block, that after weeks of negotiations, approved the budget by 2017.

The spending plan foresees a deficit of 1.8 percent in 2017. The Government targets a deficit of 2.2 percent this year, while the International Monetary Fund (IMF) projected to be three percent. This agency financial international warns that Portugal remains one of the vulnerable countries of the eurozone.