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Portugal's debt rises but a better 2015 on the cards says report

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Portugal's debt rises but a better 2015 on the cards says report

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Portugal remains on course for restored economic health
after latest figures suggest it has managed to shrink its deficit, although the overall debt has increased slightly.

The deficit is down to 4.5% of GDP, from 4.8% a year ago; above the desired target agreed with creditors, but below the official estimate.

Debt, which should be at 4%, is likely to be 4.8% this year says the government because of payments to transport companies, while the debt hit 130.2 % of GDP, up from 129.7 a year before.

The budget deficit should fall to 2.7% this year, with debt falling to 125.4 % of GDP.