Brussels, 02/12/2014 (Agence Europe) - At an economic dialogue with the economic and monetary affairs committee of the EP on Tuesday 2 December, the Portuguese Finance Minister, Maria Luis Albuquerque, stuck by the forecast for the reduction of the public deficit of her country in 2015.
We still firmly believe that our economic forecasts are “reasonable”, said Albuquerque, who acknowledged the “discrepancies” between the data put forward by the Portuguese government and those of the European Commission. Budgetary consolidation measures on top of those assessed at 0.7% of GDP for 2015 would be “pointless”, although we are “prepared to adjust our strategy” if necessary, she added.
Portugal, which concluded its bailout plan earlier this year, is under an excessive deficit procedure. According to the Commission, the Portuguese deficit will not fall below the 3% of GDP mark in 2015 without additional measures, whereas Lisbon predicts a deficit of 2.7%.
The Portuguese Left has criticised the policy of the centre-right government. The debt is one of the highest in Europe, unemployment has exploded, the risk of poverty is extremely high, said Socialist Elisa Ferreira. Her GUE/NGL compatriot said that the Portuguese bailout plan had simply failed. “We are paying considerable social costs but in view of the circumstances, adjustments were needed”, Albuquerque replied.
General elections will be held in Portugal in 2015. The former Portuguese Prime Minister (2005-2011), José Socrates, was jailed in late November for tax fraud, corruption and money-laundering. (MB)