Tag Archives: 'government'
According to the latest figures from the General Directorate of the Budget there was a spike of over €1bn in the Portuguese state budget deficit between March and April.
The junior minister of parliamentary affairs, Teresa Morais, stated there was a “very good possibility” the Amending Budget would be delivered by 31st May.
The Budget Strategy Document contains structural reforms agreed with international creditors and aimed at reducing annual state spending by some €4bn.The document will be submitted to parliament and is also to be sent to the European Commission.
The government decided that the ‘Christmas’ payments made so far to public servants are to be considered as ‘Holiday’ bonus, meaning that it will not have to pay an extra month’s salary in June. It also announced a reduction on the limits of all budget programmes such as expenses with personnel, goods and services.
Minister of Finance Vítor Gaspar told reporters on the sidelines of an informal meeting of EU finance ministers the troika would be returning to Portugal at the beginning of next week.
Outgoing Miguel Relvas’ post will be divided into two: Miguel Poiares Maduro will be the new deputy minister, while Luís Marques Guedes is promoted to minister of the presidency.
The brief and unscheduled visit is designed to provide an opportunity for the government to present its alternatives. Also Fitch ratings agency fears that all spending cuts impacting on state employees are unconstitutional.
The European Commission said that the results of the 7th troika assessment depended on the measures the Portuguese government will adopt to get round the Constitutional Court’s decision.
It was one of the gloomiest scenarios anticipated by the government which has called an emergency cabinet meeting this Saturday.
One of the senior members of the cabinet and Prime Minister Pedro Passos Coelho’s right-hand man handed in his resignation this Thursday.