Portugal Elevates Modified Budget Shortage to 9.1% of National Income

The Guardian reports that Portugal, in bailout talks with the EU and IMF, has admitted its debt load is even greater than its initial estimates after revising up its deficit for 2010 to 9.1% of gross household product. The country’s National Statistics Institute sent the modification to the EU’s data office, Eurostat, this weekend, blaming the decision to include three public-private partnerships onto the nation’s books for causing the rise in the debt. The previous figure provided to Eurostat by Portugal was 8.6%, well above the 7.3% that was targeted by the government for 2010.

Jasper - The Real Deal!

Risk Our Money Not Yours | Get 50% Off Any Account!

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


*

This site uses Akismet to reduce spam. Learn how your comment data is processed.