Portugal's new govt says goodbye to post-bailout austerity

  • 2/10/2023
  • 16:17
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LISBON, Portugal, Rabi'II 12, 1437, Jan 22, 2016, SPA -- Portugal's new Socialist government is promising to lower the country's budget deficit this year, while also scrapping unpopular austerity measures, according to AP. A draft 2016 state budget presented to Parliament on Friday puts the deficit target at 2.6 percent, down from an expected 3 percent last year. But the minority government, supported by the Communist Party and radical Left Bloc, still intends to cut the tax burden. That includes cutting sales tax at restaurants to 13 percent from 23 percent as part of an effort to stimulate consumption. --SPA 15:02 LOCAL TIME 12:02 GMT www.spa.gov.sa/w

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