Costa warns of need to watch budget balance while fostering recovery

This message about making ends meet was conveyed by Costa at a meeting with lawmakers from his Socialist Party (PS) at the parliament building, to discuss the government’s 2022 budget bill.

The state budget is always a coin with two sides, one of which balances revenue and expenditure. It is vital to safeguard the international credibility of the country’s economy, Prime Minister António Costa said on Thursday.

Costa conveyed this message about making ends meet at a meeting with lawmakers from his Socialist Party (PS) at the parliament building to discuss the government’s 2022 budget bill.

With the minister of state and finance, João Leão, at his side, Costa stressed the “fundamental” importance of ensuring that the books balance – a theme that he highlighted last Saturday at a meeting of the party’s National Committee.

“We must [ensure] economic recovery, we must strengthen public services, but we must balance the books,” he said. “Thanks to this trajectory, making turning the page of austerity compatible with balancing the books, Portugal came out of the European Union’s excessive deficit procedure and saw the rating agencies upgrade the Republic, even going so far as to have an issue [of treasury bonds] this year in which the ten-year interest rate was negative.”

“This is a very big asset,” he said, stressing the need to maintain the country’s “international credibility”.

(Pedro Morais Fonseca | Lusa.pt)

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