Bloomberg News

Portuguese Government Approves Budget Proposal for Next Year

October 13, 2011

Oct. 13 (Bloomberg) -- The Portuguese government approved the budget proposal for 2012 and a proposal for an amendment to the 2011 budget at a cabinet meeting today.

The cabinet also approved a law that will lessen the increase in electricity prices in 2012, according to a statement posted on the government’s website.

The budget proposal has to be discussed and voted in parliament. The coalition government is backed by the Social Democrats and the People’s Party, which combined have a majority of seats in the legislature.

To contact the reporter on this story: Joao Lima in Lisbon at jlima1@bloomberg.net

To contact the editor responsible for this story: Jim Silver at jsilver@bloomberg.net


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