Tag Archives: 'recovery'

IMF: Portugal programme on track, despite risks

IMF: Portugal programme on track, despite risks

Despite the economy being expected to slump further, the IMF says it still expects a recovery late in the year.

Crisis: Pharmacies seek help to avoid bankruptcies

The sector had total debts of €235bn in June, the president of the National Association of Pharmacies João Cordeiro said, blaming the crisis in part on recent government-ordered cuts in the retail price of medicines.

Bailout: Minister of Finance proposes services and staff cuts to troika

Newspaper Sol reported that the Ministry of Finance presented a programme to cut state expenditure in 2013 as part of the efforts to avoid resorting to more austerity measures.

Politics: PM holds early evening talks with opposition leader

This is the sixth such meeting between Prime Minister Passos Coelho and Socialist Party leader Seguro since July 2011, but the agenda was not made public.

ANA: Airport operator privatisation given the go-ahead

The government “knows there are several investors interested in this privatization process,” said Maria Luís Albuquerque, secretary of state for treasury and finance, before adding that the formal proposal stage had not yet been opened.

Government consultant: Bailout going well, but more business lending needed for growth

“The programme is going well, whatever they say,” said the government’s senior privatisation consultant António Borges in a speech.

Trade: Exports to China soar in first half, as imports fall

Overall, trade between the two countries in the period was up 5.2% at US$2.3m (€1.8bn), making Portugal China’s third most important trading partner among Portuguese-speaking nations, after Brazil and Angola.

Bailout: 2012 deficit estimated at 5.3% without additional measures (update)

Newspaper Diário Económico has disclosed that the Ministry of Finance has already informed the troika’s quarterly mission to Lisbon that Portugal is €1.2bn short to comply with the 2012 deficit target, anticipating a 5.3% deficit for this year.

Trade: Deputy minister hails companies’ export push into Far East

With Portugal’s traditional partners in Europe in recession, Deputy Minister Miguel Relvas said that business must look elsewhere to make the most of its investments in new technology and machinery.

Diplomacy: Portuguese FM Portas to sign cooperation programme with Cape Verde

The programme of his one-day visit includes a meeting with Prime Minister José Maria Neves and Foreign Minister Jorge Borges.