Author (Corporate) | European Commission: Press and Communication Service |
---|---|
Series Title | Press Release |
Series Details | IP/05/769 (22.6.05) |
Publication Date | 22/06/2005 |
Content Type | News |
The European Commission on 22 June 2005 adopted a report on the Portuguese budgetary situation after the government recently announced that the deficit would reach 6.2% of GDP in 2005. Such deficit was neither close to the 3% reference value set in the European Union Treaty nor could it be considered temporary or exceptional, as defined by the Treaty. The debt-to-GDP ratio was also above the 60% reference value and on the increase. In parallel, the Commission also examined Portugal's updated stability programme which foresees a decrease of the deficit to 4.8% in 2006 and 2.8% in 2008. |
|
Source Link | http://europa.eu/rapid/pressReleasesAction.do?reference=IP/05/769&format=HTML&aged=0&language=EN&guiLanguage=en |
Subject Categories | Economic and Financial Affairs |
Countries / Regions | Portugal |
![](https://www.europeansources.info/wp-content/uploads/esologo2.png)