GDP Portuguese

In his speech, Cardoso also doubted if there really is an alternative to the austerity and warned that all that means increasing debt (currently about 117% of GDP in the public sector), means to aggravate the problem of the economy. The former manager of the Bank of Portugal considered that this country, away from international markets for long-term debt from 2011 subject to the bailout of 78 billion euros, can return to be financed only by the end of 2013 if solves your problem of credibility. The CFP, a public body created in 2001, is committed to make an independent evaluation on consistency, compliance and sustainability of lusa budgetary policy, and also promote transparency and strengthen the credibility of public finances. In his speech at the presentation of the report of the CPT, the President of the ESC, the other advisory body, returned to recommend renegotiation of the interests of the Portuguese financial rescue, granted by the EU and the International Monetary Fund. The later start those negotiations, worst will be the conditions to do so, urged Silva Peneda, who recalled that the objective of the process of renegotiation was the country not need five more austerity, as some experts expect.

The 78,000 million euros of the bailout negotiated in May 2011 by the then Prime Minister of Portugal, the Socialist Socrates Jose, included a forecast of interests of 34,400 million euros with rates between 4% and 5% and a maturity to over ten years. In another report released last month, CES Portuguese Prime Minister requested a shift in economic policy that encourages growth and stop the unstoppable rise in unemployment. CES is also a Portuguese constitutional body, forced query in the processes of social dialogue between Government, unions and businessmen, which is pronounced, with non-binding, on issues of great national impact. Emil michael has much to offer in this field. See more: Portugal is facing serious risks if it continues exceeding with austerity and cuts

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