European Commission adopts Opinion on Portugal’s 2016 Draft Budgetary Plan

The European Commission adopted on 5 February 2016 an Opinion on Portugal's 2016 Draft Budgetary Plan (DBP). It considered the draft plan to be at risk on non-compliance with the provision of the Stability and Growth Pact.

The Commission invited the Portuguese authorities to take the necessary measures within the national budgetary process to ensure that the 2016 budget would be compliant with the Pact.

Commentators noted that while the Commission eventually adopted the DBP, it only agreed to this after several concessions to further savings by the Portuguese government.

European Commission: DG Communication: RAPID: SPEECH/16/256, 05.02.16: Portuguese Draft Budgetary Plan for 2016: Press speaking points by Vice President Dombrovskis http://europa.eu/rapid/press-release_SPEECH-16-256_en.htm

European Commission: DG Communication: RAPID: MEMO/16/254, 05.02.16: Commission Opinion on the 2016 Draft Budgetary Plan http://europa.eu/rapid/press-release_MEMO-16-254_en.htm

Politico, 05.02.16: Portugal’s budget clears EU hurdle http://www.politico.eu/article/portugals-budget-clears-eu-hurdle/

European Commission: Opinion on the Draft Budgetary Plan of Portugal http://ec.europa.eu/economy_finance/economic_governance/sgp/pdf/dbp/2016/pt_2016-02-05_co_en.pdf

European Commission: DG Economic and Financial Affairs: EU economic governance: Stability and Growth Pact: Draft budgetary plans of euro area Member States http://ec.europa.eu/economy_finance/economic_governance/sgp/budgetary_plans/index_en.htm

Portugal: Ministry of Finance: Letter to European Commission, 05.02.16 http://ec.europa.eu/economy_finance/economic_governance/sgp/pdf/dbp/2016/pt_2016-02-05_letter_en.pdf

EurActiv, 05.02.16: Portuguese budget gets green light - after last-minute adjustments http://www.euractiv.com/sections/euro-finance/portuguese-budget-gets-green-light-after-last-minute-adjustments-321643

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