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Updated Monday, March 15, 2010 11:07 am TWN, Bloomberg

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Portugal gov't approves stability, growth program

The Portuguese government approved the country's Stability and Growth Program at an extraordinary cabinet meeting today.

“The document approved today provides details on the measures that have already been presented,” Portuguese Finance Minister Fernando Teixeira dos Santos told reporters in Lisbon today following the meeting. “There are no significant changes in relation to what has already been announced.”

Portugal had a deficit of 9.3 percent of gross domestic product in 2009, more than three times the European Union limit of 3 percent, and has pledged to narrow its deficit to 8.3 percent of output this year and 2.8 percent in 2013, the finance minister said March 8.

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