A European Union official says a preliminary deal for a bailout for Portugal is likely in the coming days.

The official said Monday that experts from the EU's executive Commission, the International Monetary Fund and the European Central Bank visiting Lisbon were close to agreeing on economic policies to accompany the bailout.

Portuguese press have said a deal will be announced Wednesday, but the official said he was "not so optimistic" it will happen then.

He said the timing will depend on all major parties in Portugal, which is in the middle of an election campaign, endorsing the deal.

The program will then have to be agreed by other eurozone governments.

The official was speaking on condition of anonymity because discussions are still under way.