World Economy

Portugal to Exit Deficit in Spring

Portugal to Exit Deficit in SpringPortugal to Exit Deficit in Spring

Portugal is set to exit the EU excessive deficit procedure if the European Commission confirms its latest forecasts for this year and next in a new assessment in the spring, EC Vice President Valdis Dombrovskis said on Friday, Reuters reported. Lisbon says it cut the budget deficit last year to 2.1% of GDP or less—the lowest level in the country’s democratic history and below the 2.5% target set by Brussels—after 4.4% in 2015. The gap is also below the 3% EU threshold for excessive deficits for the first time. 


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