Portugal’s Growth Plan

08 Mar 2010, Lisbon, Portugal — Portugal’s Prime Minister, Jose Socrates and Finance Minister, Fernando Teixeira dos Santos, announced today the growth and stability plan (PEC). The PEC is intended to fight last year’s 9.3 percent deficit and the government plans to raise taxes, privatize state assets and reduce costs in the public sectors. Sao Bento Palace, Lisbon, Portugal. 08/03/2010.Portugal’s Prime Minister, Jose Socrates and Finances Minister, Fernando Teixeira dos Santos, announced today the growth and stability plan (PEC) at the Sao Bento Palace in Lisbon, Portugal on Monday, March 8, 2010. The PEC is intended to fight the last year 9.3 percent deficit. The portuguese government plans to raise taxes, privatize state assets and reduce costs in the public sectors. The unemployment rate, currently set above 10 percent, is said to be reduced till 2013 but the government doesn’t expect to go — Image by © Mario Proenca / Demotix/Demotix/Corbis

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