Portugal's new government vows to keep balanced budgets, privatise TAP

Portugal's new minority centre-right government will maintain balanced budgets and continue to reduce the country's public debt, it said in its programme on Wednesday that will be debated in parliament later this week. It also said it would proceed with the long-planned privatisation of flag carrier TAP. Portugal swung to a stronger-than-expected budget surplus of 1.2% of GDP last year from a deficit of 0.3% in 2022.

Portugal's new minority centre-right government will maintain balanced budgets and continue to reduce the country's public debt, it said in its programme on Wednesday that will be debated in parliament later this week. It also said it would proceed with the long-planned privatisation of flag carrier TAP.

Portugal swung to a stronger-than-expected budget surplus of 1.2% of GDP last year from a deficit of 0.3% in 2022. The previous Socialist administration predicted a surplus of 0.2% this year.