Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Portugal Caps Public Sector Managers’ Pay as It Cuts Spending

Feb. 9 (Bloomberg) -- The Portuguese government said it approved a diploma that prohibits managers at state-owned companies from earning a higher salary than the prime minister.

The measure is part of a plan to increase savings in the public sector and excludes certain companies that are subject to “free market competition,” Helder Rosalino, secretary of state for public administration, said at a press conference today following the weekly cabinet meeting.

These companies include state-owned bank Caixa Geral de Depositos SA, airline TAP SGPS SA, postal operator CTT-Correios de Portugal and broadcaster Radio e Televisao de Portugal SA. The government wants to ensure these companies will maintain their “capacity to attract” managers, Rosalino said.

Portugal requested a bailout from the European Union and the International Monetary Fund last year.

To contact the reporter on this story: Henrique Almeida in Lisbon at

To contact the editor responsible for this story: Jerrold Colten at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.