Portugal PM says budget deal safeguards deficit goal

LISBON, Nov 2 (BestGrowthStock) – A deal between Portugal’s
government and the main opposition party to approve an austere
draft 2011 budget leaves the government’s budget deficit target
of 4.6 percent intact, Prime Minister Jose Socrates said on
Tuesday.

“The negotiations that we’ve had fully safeguard the essence
of the budget proposal, and the essence, from the very start,
has been meeting the deficit target of 4.6 percent of GDP,” he
told parliament at the start of the budget debate.

The first vote on the general guidelines is on Wednesday and
the bill is set to clear the first hurdle after the main
opposition Social Democrats said they would abstain in the vote.

Portugal PM says budget deal safeguards deficit goal