Brussels, 06/05/2002 (Agence Europe) - In addition to other points on the agenda of the Eurogroup meeting on Monday evening (see EUROPE of 4 May, p.8), the new Portuguese Finance Minister, Manuela Ferreira Leite, presented to her colleagues her country's intentions with regard to budgetary matters, especially relating to the public deficit in 2002, which could come close to the 3% of GDP limit (fixed in the Stability and Growth Pact). On Sunday, Portugal approved a correcting budget (to be approved by the national parliament) for this year, in the aim of limiting the deficit to 2.9% of GDP by reducing the level of expenditure and by increasing certain taxes. Portugal is still tabling on having a balanced budget by 2004.
The spokesperson for Commissioner Pedro Solbes recalled that the Portuguese government, which recently avoided the triggering of an "early warning" procedure, pledged to have a deficit in 2002 that is "very largely below 3%". "We therefore do not expect additional measures to be taken" to keep these promises, he said.