Portuguese Government Says It’s Awaiting Opposition’s Budget Proposals
(Bloomberg) -- Portugal’s minority government is awaiting proposals from the opposition Socialists as part of negotiations to get the 2025 budget approved in parliament, Presidency Minister Antonio Leitao Amaro said.
Most Read from Bloomberg
For Tenants, AI-Powered Screening Can Be a New Barrier to Housing
Chicago Halts Hiring as Deficit Tops $1 Billion Through 2025
NYC Transit Capital Upgrades Face $27 Billion Gap, DiNapoli Says
The government remains available for talks with different parties, Leitao Amaro said at a press conference in Lisbon on Wednesday.
The budget, due to be presented in October, may be a key test for Prime Minister Luis Montenegro’s minority administration, which took office in April after the center-right AD coalition’s narrow election win over the Socialists. The premier needs to find backing from other parties to get approval for budgets and other measures, and may have to compromise on key policies such as tax cuts to pass legislation.
The Socialists have just two fewer seats in parliament than the AD coalition.
The government has said it aims to post budget surpluses of about 0.2% to 0.3% of gross domestic product in the next four years, and forecasts economic growth of about 2% in 2024 and 2025.
Most Read from Bloomberg Businessweek
EV Leases Go as Low as $20 a Month to Help Dealers Clear Their Lots
China Can Avoid Japan’s Lost Decades If It Follows Korea’s Path
The Covid Pandemic Left an Extra 13 Million Americans Single
US Oil Boom Turns Kamala Harris Into an Unlikely Fracking Supporter
Putting Olive Oil in a Squeeze Bottle Earned This Startup a Cult Following
©2024 Bloomberg L.P.