Tags: EU | Portugal | Politics

More Growth, Jobs: Portugal's Socialists Make Big Promises

Wednesday, 19 August 2015 12:43 PM

LISBON, Portugal (AP) — Portugal's main opposition Socialist Party is promising to deliver more growth and less austerity if it regains power in October elections.

The center-left Socialists have said they intend to abide by fiscal discipline rules governing countries sharing the euro currency. But party leader Antonio Costa says the center-right government of the past four years cut too deep after Portugal's 78 billion-euro ($86 billion) bailout in 2011.

The Socialists said Wednesday they will boost the economy — and create around 200,000 new jobs — by temporarily lowering social security taxes. That, they say, will fuel an increase in private consumption.

Due to the lower tax, the budget deficit will fall below 3 percent of gross domestic product — a eurozone requirement — only in 2017 under the Socialists.

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Portugal's main opposition Socialist Party is promising to deliver more growth and less austerity if it regains power in October elections.The center-left Socialists have said they intend to abide by fiscal discipline rules governing countries sharing the euro currency. But...
EU,Portugal,Politics
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2015-43-19
Wednesday, 19 August 2015 12:43 PM
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