A “savings programme” is being prepared by the Portuguese government as part of its commitment with the Troika to reduce public spending by €4 billion.
During last Saturday’s Council of Ministers, Carlos Moedas, the Secretary of State to the Prime Minister, said that the government hoped to be able to present its programme of “savings” during the seventh evaluation of Portugal’s bailout by the Troika at the end of this month.
“We need to prepare a number of measures and options that will help us save money. We are working in this direction with all the ministries in order to fulfil, with rigour, what is outlined in the memorandum of understanding – a saving of €4 billion,” he said.
The Secretary of State refused to reveal details about the measures discussed but was keen to correct members of the press when asked about the impact of these “cuts” . “We are talking about savings, not cuts,” he said.
Reinforcing Moedas’ words, Minister of Foreign Affairs Paulo Portas added that the Portuguese government has external commitments that it needs to fulfil.