Por­tu­gal bud­get faces se­ri­ous chal­lenges

China Daily (Hong Kong) - - BUSINESS -

Por­tu­gal’s state bud­get for 2017 faced se­ri­ous chal­lenges, in­clud­ing the need for more eco­nomic growth, Por­tuguese Pres­i­dent Marcelo Re­belo de Sousa said on Wed­nes­day in an of­fi­cial ad­dress to the coun­try. “We need more eco­nomic growth to guar­an­tee the sta­bil­ity of bud­getary rigor in the up­com­ing years,” Re­belo de Sousa said at the Belem palace in Lis­bon, adding that there were four chal­lenges the im­ple­men­ta­tion of the bud­get faces. He said the main chal­lenges were un­pre­dictabil­ity in the world and in Europe, the con­sol­i­da­tion of the coun­try’s bank­ing sys­tem, the need for eco­nomic growth and the need to in­crease ex­ports and in­vest­ment.

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