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Image header Agence Europe
Europe Daily Bulletin No. 10739
ECONOMY - FINANCE - BUSINESS / (ae) portugal

Parliament votes through 2013 budget

Brussels, 27/11/2012 (Agence Europe) - On Tuesday 27 November, the Portuguese parliament voted through the country's budget for 2013, including new austerity measures to save €5.3 billion in public spending. Eighty percent of the savings will come from tax rises (rather than the initially planned controversial rise in social security contributions and fall in employer's social security contributions). The left opposition forces voted against the budget, but their votes were not needed to get it through. Under the €78 billion financial aid programme for Portugal, the government has pledged to cut the public debit to 4.5% of GDP next year. (SP/transl.fl)

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