Portugal won't be able to meet the goal of reducing its deficit to 4.5% of gross domestic product (GDP) this year, according to the head of the country's opposition party Antonio José Seguro.

The centre-left leader informed the Troika (inspectors from the European Commission, International Monetary Fund and European Central Bank) that the deficit requirement outlined in the country's €78bn "won't be met". Although Lisbon has been praised for its implementation of reform programs by its international creditors, economists widely expect the country to fall short of the 4.5% target.

Seguro blamed the government for taking measures without consulting the Socialists. "I told the Troika that the recipe that the government is applying in Portugal is making the problems of the Portuguese worse," Seguro said.

JM

Related share prices