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Portugal's Budget for 2016 Approved by European Commission

10 February 2016

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Proposed Changes

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Portugal

On 5 February 2016, Portugal's Cabinet adopted a revised Budget for 2016 after being approved by the European Commission as being compliant with Portugal's obligations under the Stability and Growth Pact. The revised budget maintains some reductions in austerity measures, while certain spending cuts and increases in certain consumption taxes have been included to meet deficit reduction requirements. No major tax reform measures have been announced. The budget measures must now be introduced to parliament and adopted before entering into force.