Analysis of the Draft State Budget for 2014

The State Budget for 2014 will be the last to be approved under the Economic and Financial Assistance Programme (EFAP) which was entered into in the spring of 2011 and will expire in June 2014. Therefore the explicit goal of the Draft State Budget for 2014 (DSB/2014) is to ensure the Programme will be completed within the deadline.

This requires the country to meet the targets set and embark on “a new cycle of long lasting consolidation and economic growth”, as acknowledged in the DSB/2014. These are prerequisites for the rebuilding of national and international creditor confidence, which in turn will restore Portugal’s access to financial markets, allowing it to finance and manage its debt.

The CFP Report no. 7/2013  is divided into:

Overview

1. Macroeconomic scenario
2. Budget aggregates
3. Multi-annual budgetary programming framework
4. Indebtedness, gross borrowing requirements and public debt developments
5. Comparison with adjustment programme (2010-2014)
6. Fiscal transparency

Date of last update: 07/11/2013