Portugal budget puts deficit among lowest in Europe-PM

LISBON, Nov 26 (BestGrowthStock) – Portugal’s austere 2011 budget
will allow the country to post one of the lowest deficits in
Europe, Prime Minister Jose Socrates said after the budget bill
was approved in a final vote in parliament.

“That is the goal of this budget. That is why we have
adopted these difficult measures,” Socrates said.

The minority Socialist government hopes the bill, which
envisages a budget deficit cut to 4.6 percent of gross domestic
product next year from this year’s projected 7.3 percent, can
ward off the euro zone debt crisis and help Portugal avoid
resorting to a bailout.

(Reporting by Shrikesh Laxmidas and Patricia Rua; editing
by Axel Bugge)

Portugal budget puts deficit among lowest in Europe-PM