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Portugal makes steady progress says EU/IMF

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Portugal makes steady progress says EU/IMF

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The EU and IMF have given Portugal flying colours after their fourth quarterly review of the country’s 78 billion-euro bailout.

The finance ministry said considerable external and internal risks remained but that all targets had been hit, and that reaching a 4.5 percent GDP budget deficit this year was achievable, although 2013’s debt-to-GDP ratio will rise slightly, to 118 percent.