Portugal to cut spending by 3 billion euros

Note: This section contains information in English only.
Source: Bloomberg
Portuguese government plans to cut additional 3.2 billion euros from spending during 2014 in order to reach deficit target of 3%, while the country's aim is to exit from the bailout program. Moreover, 1.3 billion from the whole cuts will come from the state sector, as government employees who earn 600 euros and more will see a salary decrease of 2.5% to 12%. Budget deficit is planned at 11.7 billion euros.
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