Positive marks from the EC-ECB-IMF team would clear the way for a new disbursement of some €4.3bn in troika funds, but the mission will also have to assess the impact the shortfall in tax revenues will have on the fulfilment of the 4.5% deficit target agreed to last year.
The bailout “troika” team will arrive in Lisbon Tuesday, 28 August, for its fifth quarterly assessment of Portugal’s performance under the three-year, €78bn financial rescue programme, the Ministry of Finance confirmed Friday, 24 August.
The review, analysts said, was of special importance because it will be the last before Prime Minister Pedro Passos Coelho presents his 2013 budget to parliament and comes after the centre-right government acknowledged its 4.5% deficit target for this year was compromised by slippage in fiscal receipts.
Positive marks from the Brussels-ECB-IMF team would clear the way for a new disbursement of troika funds, this time to the tune of about €4.3bn.
Portugal received “thumbs up” from its international bailout lenders in the previous four quarterly assessments, which normally last for about 10 days.
(Photograph: Partido Social Democrata. All Rights Reserved)