Posted on Saturday, 2nd April 2011 by Jesse Walker
MADRID — Portugal’s national statistical agency on Thursday said the government had a budget deficit of 8.6% of gross domestic product in 2010, which was higher than the government’s estimate of just over 7%. The agency said the budget deficit would drop to 4.6% for 2011. The higher budget deficit presents more problems for embattled Portugal, whose Prime Minister Jose Socrates last week tendered his resignation after new government austerity measures were not passed in parliament. A new election date could be announced on Thursday.
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Tags: Budget Deficit, Deficit
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