Tuesday 12 December 2017

Portugal’s stability program Is ‘credible’: Barroso

Joao Lima

European Commission President Jose Barroso said the Portuguese government’s Stability and Growth Program is "a credible document."

“In the economic and financial moment that we are living, to execute programs of this type it is advantageous to have a certain national consensus, as vast as possible, because these are difficult measures,” Barroso told reporters at the Law Faculty of the University of Lisbon.

Portugal had a deficit of 9.3pc of gross domestic product in 2009, more than three times the EU limit of 3pc, and has pledged to narrow its deficit to 8.3pc of output this year and 2.8pc in 2013.

Bloomberg

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