Portugal govt to limit public administration deficits

LISBON, Dec 2 (BestGrowthStock) – Portugal’s government said on
Thursday it plans to impose maximum limits on public
administration budget deficits, at time when the country is
under pressure from markets to consolidate its public finances.

In a briefing after a cabinet meeting, Budget Secretary
Emanuel dos Santos also said the government will from now on
prepare budgets in a multi-year framework.

Portugal’s borrowing costs have spiked this year due to
investor concerns about its public finances, with many
economists saying the country is next in line for a bailout
after Greece and Ireland.

(Reporting by Filipa Lima; writing by Shrikesh Laxmidas)

Portugal govt to limit public administration deficits