Portugal approves 2021 budget with more investment for recovery

Portugal's parliament passed on Thursday the minority Socialist government's 2021 budget that bets on a steep rise in public investment to relaunch growth of the coronavirus-battered economy, while also increasing subsidies and pensions. In its final reading, the document was approved by 108-105 votes with 17 abstentions, which included the Communist Party, a former ally of the Socialist government in the previous legislature.

The only 'yes' votes for the bill, which envisages a deficit reduction to 4.3% of gross domestic product from this year's estimated 7.3%, came from the Socialist bench.