January 15, 2020 / 11:32 AM / a month ago

Portugal's 2020 budget at risk of breaching EU fiscal rules -Commission

BRUSSELS, Jan 15 (Reuters) - The European Commission said on Wednesday Portugal’s updated draft budget for 2020 was at risk of breaking European Union fiscal rules because of insufficient progress in reducing its structural deficit.

“The Commission is of the opinion that the updated Draft Budgetary Plan of Portugal is at risk of non-compliance with the provisions of the Stability and Growth Pact,” the Commission, which is the guardian of EU rules said. (Reporting by Francesco GUarascio and Jan Strupczewski)

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