LISBON (MNI) – Exports will be the driving force in Portugal’s
economy this year, Portuguese Finance Minister Fernando Teixeira dos
Santos said Friday.
Speaking at an event here, he highlighted the fact that in 2010
Portugal was able to hit its budget deficit target of 7.3% of GDP.
Preliminary information indicates that budget execution was better than
expected, he said.
He stressed the importance of continuing to implement structural
reforms that promote flexibility and competition. This is the year that
Portugal needs to regain the confidence of financial markets and other
economic agents, he said.
“We have done our work with regard to the budget and reform. We
hope that Europe has the ability to do its work to be able to face all
the difficulties that lie ahead,” he said.
“It is not enough that we have a common monetary policy, but we
also need common budget instruments,” dos Santos concluded.
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