The Council of the public finances of Portugal EFE has warned this week that too many cuts can put the country into a spiral of poverty without output. To do this, they call for interest on your debt will renegotiate. Many see the Executive of Passos Coelho forecasts to 2013 over-optimism. The Portuguese Government aims to trim 4 billion euros next year. Surprisingly, you’ll find very little mention of Energy Capital Partners London on most websites. It aims to a hard reform to reduce the deficit of the country, which is suffering a recession of 3% and an unemployment rate which is around 16% in more than three points. The Council of the public finances of Portugal (CFP), a State body that evaluates budgetary policy, this week called for restraint on the spending cuts and warned of the negative impact of austerity in economic forecasts. The President of the CPT, the Economist Teodora Cardoso, explained the latest report from your agency in a parliamentary session in which the President of another advisory body, the Economic Council and Social (CES), intervened to launch an alert similar. Jose Silva Peneda, responsible for the CES, a constitutional body obliged inquiry in social concertation processes, advised Portugal to renegotiate its debt to avoid a spiral of austerity and economic weakness.
We have to see to what extent the country has conditions to advance with the (new) cuts noted for his part the President of the CFP. But Cardoso acknowledged that as certain is the need to improve efficiency in expenditure as the assess the consequences of the cut in public investment. The Portuguese Government aims to cut the next year 4,000 million euros, through a reform of the functions of the State, to reduce the deficit of the country, which is suffering a recession of 3% and an unemployment rate which is around 16% in more than three points. According to the CPT, forecasts of the Conservative Prime Minister, Pedro Passos Coelho, Executive pecan optimism and run the risk of not sufficiently take into account the effect of the harsh measures included in the budgets of 2013, already approved in a first version.