Portugal: Gaspar reiterates 4.5% deficit target, despite unexpected problems
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- Created on Monday, 25 June 2012 11:51
The Portuguese government is determined to meet its bailout 4.5% deficit target this year despite receiving lower tax revenues and social security contributions than expected, according to Finance Minister Vítor Gaspar.
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Luxembourg, June 22 (Lusa) – The Portuguese government is determined to meet its bailout 4.5% deficit target this year despite receiving lower tax revenues and social security contributions than expected, according to Finance Minister Vítor Gaspar. “The data available on the performance of receipts is not positive”, signaling a “significant increase in risks and uncertainties related to budgetary expectations”, he said Thursday night after a meeting of Eurozone finance ministers in Luxembourg. However, “the government is determined to meet the 4.5% deficit ceiling” for 2012 agreed with the EU and IMF under Lisbon’s 13-month-old financial rescue program, Gaspar added. He repeated vows that Portugal would seek “neither more time nor more money” from its lenders, who are providing €78 billion over three years. Gaspar also said Lisbon welcomed the planned bailout for banks in Spain, but would remain “vigilant” to assure its neighbor was not getting more favorable conditions. |
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