Gaspar Says Aid Program Protects Portugal in the Short Term

Portugal’s Finance Minister Vitor Gaspar said international financial support protects his country in the short term from changes in investor sentiment.

“A country like Portugal that benefits from an international sponsored program is not at risk from market forces in the short run because the program itself shelters” the country, Gaspar said today at a conference in Washington.

Prime Minister Pedro Passos Coelho is cutting spending and increasing taxes to meet the terms of a 78 billion-euro ($102 billion) aid plan from the European Union and the International Monetary Fund.

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