Turbulent times call for budget cuts, says Portuguese PM

11/11/11 00:34 CET

economy

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Portuguese Prime Minister Pedro Passos Coelho on Thursday called for public spending to be slashed as the country’s parliament started to debate next year’s budget.

Coehlo wants to make unprecedented cuts so Portugal can continue to access rescue funds from the EU and IMF.

“In these turbulent times, there is no room for doubts or for political calculations different from those that will guarantee that these goals be achieved,” he told MPs.

Three left-wing parties oppose the planned reduction in expenditure.

But the budget’s passage is inevitable owing to Coelho’s parliamentary majority and the backing of the opposition Socialist Party.

Unions remain opposed and plan to hold a general strike on November 24.

More about: Economic crisis, Pedro Passos Coelho, Portugal, Prime Minister

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