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Brussels, 26 November 2010
Statement by EU Commissioner for Economic and Monetary Affairs Olli REHN on the approval of 2011 Budget by the Portuguese Parliament
I welcome the approval today by the Parliament of Portugal of the 2011 Budget.
The budgetary strategy of Portugal is appropriate, with ambitious fiscal targets and broadly appropriate measures to reach the deficit target of 4.6% of GDP in 2011.
Of course this fiscal consolidation effort, which is indispensable to build a sound basis for medium- term growth and jobs, will have to continue in subsequent years.
By approving today this ambitious Budget, but also by implementing fiscal policy in a strict manner and pursuing an ambitious structural reform agenda to increase potential growth and jobs, Portugal will reinforce confidence in its economy.