Brussels, 16/04/2014 (Agence Europe) - Portugal announced new savings of €1.4 billion on 15 April in order to reduce its public deficit to 2.5% of GDP next year.
The bulk of the measures reduce ministerial expenditure and reshuffle the civil services, without demanding extra sacrifices from the people, explained Finance Minister Maria Luis Albuquerque. The country's public deficit stood at 5.5% of GDP at the end of 2013 and it is hoped that this will be reduced to 4% in 2014.
After the...