Focus on Portuguese immigration, focus on life in Portugal: The Portuguese government approved an economic growth and stability program at a cabinet meeting on the 21st, and set targets for fiscal deficit reduction and economic growth.
According to the program, the Portuguese government expects this year's fiscal deficit to account for 2.2% of the Gross Domestic Product (GDP), and 1.4% next year. The Portuguese government's fiscal deficit last year accounted for 4.4% of GDP, which was higher than the 3% limit set by the European Union. The Portuguese government also expects the country's economic growth rate to reach 1.8% this year.
Portuguese Finance Minister Centeno stated on the same day that this program is prudent and realistic, and the government will achieve its deficit reduction goals by cutting expenditures. He also indicated that, based on the implementation of the budget in the first few months of this year, he is confident that the European Union will approve the program.
In May 2011, the Portuguese government reached a 78 billion euro bailout agreement with the "troika" consisting of the European Union, the International Monetary Fund, and the European Central Bank. In May 2014, Portugal successfully exited the international bailout as scheduled. After the Socialist Party government led by current Prime Minister Costa took office in November last year, it ceased implementing the previous government's economic austerity policies, but it will still fulfill its commitments to the European Union and take measures to promote economic growth.