Mediafax (Mediafax)
Markets  |  July 17, 2012 10:45:06

The IMF approved the payment of another tranche of 1.48 billion euros aid for Portugal (July 17, 2012)


WASHINGTON (MEDIAFAX) - International Monetary Fund (IMF) late on Monday evening approved the payment of the next tranche of € 1.48 billion (around CZK 37.5 billion) for Portugal in the international financial aid package worth 78 billion euros. Informed the agency said.

The IMF also called on Lisbon to stick to strict economic policies and reforms that he managed to return to the capital markets.

"It will be important to meet the obligations that flow from a strict set of economic policies and structural reforms, in order to ensure sustainable economic growth," the IMF said in a statement.

Objective Portugal regarding the budget deficit for this year is still achievable according to the IMF. A lower budget revenues, but according to the IMF is a risk that the Lisbon goal to fill this will not happen.

Last year, Portugal managed to achieve the planned budget deficit. The deficit amounted to 5.9 percent of gross domestic product (GDP). The target level of budget deficit for this year is 4.5 percent of GDP and next year the deficit would reach the Portuguese government deficit to three per cent level.

Portugal last April became the third Ireland, Greece and the euro area, which had to ask because of the debt crisis on international financial assistance. Earth is currently undergoing the worst recession since the seventies. In the first quarter of the local economy declined by 2.2 percent and the unemployment rate rose to a record 14.9 percent.

Tomáš Králíček, kralicek@mediafax.cz

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MMF schválil vyplacení další tranše pomoci 1,48 miliardy eur pro Portugalsko (17.7.2012)

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