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Old 02-03-2016, 08:22 PM   #1
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Default Portugal bows to EU pressure to lower budget deficit: official

Portugal has agreed to lower its 2016 budget deficit and growth forecasts following pressure from the European Commission, a government official told AFP. The new Socialist-led minority government, allied with the radical left, cut its projected budget deficit to 2.4 percent of Gross Domestic Product (GDP), from 2.6 percent announced two weeks before, the source said on condition of anonymity. It also lowered its growth forecast to 1.9 percent, from 2.1 percent, after Brussels said the draft budget was too optimistic.




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