Article by Carlos Marinheiro, Non-Executive Member of the CFP, published in “Jornal de Negócios”

The public debt stock limits substantially economic policy options in Portugal. In an opinion article published by “Jornal de Negócios” in 22 July 2013, Carlos Marinheiro, Non-Executive Member of the Portuguese Public Finance Council, notes that such variable, in absolute terms, more than tripled between 1999 and 2012. Fiscal deficits are the major explanation. He underlines the need for the country to reduce the debt-to-GDP ratio. To achieve this end, the author says that a significant primary surplus needs to be attained and maintained for years.

Date of last update: 22/07/2013