Portugal central bank recommends more austerity
Lisbon - AFP
Portugal's government must implement more austerity measures in order to meet deficit targets agreed under its bailout programme with the EU and IMF, the central bank said on Thursday. "The 2011 deficit target will not be reached except through significant additional measures," the Bank of Portugal said in a report on the economy. The government aims reduce the public deficit to 5.9 percent of gross domestic product this year from 9.8 percent of GDP in 2010.
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Moscow - TASS
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