António Costa, Portuguese PM: “We can calmly say the deficit will sit below 2.5%”

  • ECO News
  • 22 December 2016

The Portuguese prime minister chose to highlight the importance of social and political stability he says there is in Portugal for external investment.

António Costa confirmed this Wednesday the Portuguese deficit for 2016 will indeed comply with the European Commission’s goal – “and comfortably”. Facing the end of the year, “we can calmly and with certainty say it [the deficit] will sit below 2.5%”, the prime minister stated, when speaking for the meeting of the World Portuguese Network (Encontro da Diáspora Portuguesa). In September, during the first fortnightly debate of the new political season, António Costa had already stated the deficit would be below the 2.5% goal “with comfort”, but only now, the end of the year, has it been confirmed.

After the promulgation of the 2017 State Budget by the President of the Portuguese Republic last Wednesday’s afternoon, António Costa was pleased with the approval and took the chance to highlight “the social and political stability we are currently experiencing”, that he believes is of crucial importance for investors’ trust.

Having this internal stability means it is possible for the government to focus “on what is essential”: to apply the Nacional Reform Plan, António Costa stated.

On the meeting of the World Portuguese Network, the prime minister chose to address a few words to that Diaspora, which he considers being “of important mobilization”. The Portuguese and Portuguese descendents around the world are “exceptional transmission channels” of news about Portugal to their countries, meaning they can help exports and external investment.

The need to increase investment and exports, as well as the external instability, were some of the challenges Marcelo Rebelo de Sousa chose to highlight during his speech in which he announced the promulgation of the 2017 State Budget.