Um post em inglês

10/03/2010 - Statement by the Secretary-General, Angel Gurría

OECD Secretary-General Angel Gurría welcomed the Portuguese government’s announcement of a fiscal consolidation strategy to cut its budget deficit to below 3% of GDP by 2013 as going in the direction of maintaining market confidence, supporting growth and ensuring fiscal sustainability.

The Portuguese authorities have released a fiscal consolidation strategy to bring the budget deficit below 3% of GDP by 2013 from 9.3% of GDP in 2009. The authorities propose to achieve their consolidation goals through a combination of expenditure restraint and revenue-raising initiatives.

Counter-cyclical measures related to employment and social support are appropriately maintained in 2010, because the recovery remains fragile. Expenditure restraint is planned to be most prominent in the areas of public investment, personnel management and compensation, and social transfers other than pensions and unemployment benefits. Measures to raise revenue include some broadening of social security contributions and the personal income tax, while by and large maintaining current rates.

Efforts to make the tax system more broad-based and to minimise any negative impact of fiscal consolidation on potential economic growth are welcome. The OECD welcomes the authorities’ consolidation strategy, which goes in the direction of maintaining market confidence, supporting growth and ensuring fiscal sustainability.

The authorities are encouraged to implement their consolidation strategy, underpinned by the Stability and Growth Programme to be finalised later this month, within a pluriannual budgeting framework supported by expenditure ceilings. The OECD stands ready to support the Portuguese authorities in their efforts.