Portugual Reduces 2013 Spending Limits in Budget Plan
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The Portuguese government reduced spending limits for next year as part of its effort to curb debt and regain access to bond markets.
The government will reduce its primary spending limit by 3.2 percent in 2013 and lower the limit for total spending by 2.1 percent, according to a statement handed out to reporters after a Cabinet meeting in Lisbon today. The plans are included in the government’s budget outline for the 2013-2016 period.