Portugal's President Wants Court to Review 2013 Budget


(MENAFN- Qatar News Agency) Portuguese President Anibal Cavaco Silva said Tuesday he will send the austerity budget for 2013 to the country's constitutional court for review, according to Europe Online Magazine. Cavaco said the tribunal should review the budget passed at the end of November because of legitimate doubts over its fairness. Despite his own doubt and demands from the opposition that he veto it, Cavaco signed the 2013 budget over the weekend and it officially took effect. Portugal received a 78-billion-euro aid package from the troika made up of the European Central Bank, the International Monetary Fund and the EU in 2011. In return Portugal must bring its budget deficit down from 5% in 2012 to 4.5% in 2013 to the EU-designated 3% of gross domestic product by 2014. Portugal's economy shrank at least 3% in 2012 due to the austerity measures. In addition the unemployment rate in the poorest country in western Europe to a record 16%.


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