Arab Today, arab today portugal signals imfeu approval for latest austerity
Last Updated : GMT 18:42:31
Arab Today, arab today
Arab Today, arab today

Portugal signals IMF-EU approval for latest austerity

Arab Today, arab today

Arab Today, arab today Portugal signals IMF-EU approval for latest austerity

Lisbon - AFP

The Portuguese government is signalling that it has reached an agreement with IMF and EU creditors on its latest radical austerity measures to correct public finances, after the constitutional court struck down some of the proposed policies. In saying late on Sunday that it had satisfied the conditions of the International Monetary Fund and European Union, Portugal sent a message that it is able to pass the seventh audit of its accounts and reforms by auditors from the IMF, European Commission and European Central Bank. That would open the way for the release of the latest instalment of bailout funding of 2.0 billion euros ($2.6 billion) under the rescue programme of 78 billion euros agreed for Lisbon in May 2011. Portugal hopes that in turn this will enable its EU partners to soon confirm their agreement in principle to grant Portugal an extension of the delay for repayment of the rescue loans. The government issued a brief statement after an exceptional cabinet meeting which said: "The cabinet met to be informed of the conclusion of the seventh evaluation and to confirm the conditions needed to conclude it." Portuguese Finance Minister Vitor Gaspar will present the results of the audit to his counterparts in the eurozone when they meet in Brussels later on Monday, the statement said. The latest audit began at the end of February but lasted longer and was more difficult than the previous audits. This was mainly because at the beginning of April, the constitutional court rejected several of the measures in the national budget for this year which included unprecedented tax increases. Consequently, Prime Minister Pedro Passos Coelho put forward measures to compensate for them in order to reduce public spending permanently by 4.8 billion euros by 2015. The measures are also intended to enable Portugal to respect its commitment to creditors to reduce its budget deficit to 5.5 percent of gross domestic product at the end of this year, to 4.0 percent next year and to below the EU ceiling of 3.0 percent in 2015. The latest measures include the shedding of 30,000 civil servants out of a total of 700,000, an extension of working hours for civil servants from 35 to 40 hours per week and a delay in the age qualifying for a full pension from 65 to 66 years.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today portugal signals imfeu approval for latest austerity Arab Today, arab today portugal signals imfeu approval for latest austerity

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Egyptian tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Egyptian tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday