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Portugal returns to the IMF all the credits the financial bailout of 2011

Before the end of the year, Portugal will be settled office credit with the International Monetary Fund (IMF). Will be to 4,700 million euros, out of a total of

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Portugal returns to the IMF all the credits the financial bailout of 2011

Before the end of the year, Portugal will be settled office credit with the International Monetary Fund (IMF). Will be to 4,700 million euros, out of a total of 26.300 million granted in 2011 by the cited agency to save the country from bankruptcy. The announcement has been made by the prime minister, António Costa, in the last debate session of the budget for 2019, approved with the votes of his own socialist party, the communists and the Bloco de Esquerda and the deputy of the BREAD.

The total repayment of the credit occurs years in advance, and thanks to an economic boom, which translates into growth above the EU average (2.2 per cent this year) and an unemployment of 6.6 percent in September, the lowest since 16 years ago.

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The risk premium on Portuguese is close to Spanish Portugal will bring down the debt in ten points

The approval of the last budget of the legislature was a deneme bonusu walk of triumph for Costa, with the only gorings of the VAT rebate to the bullfighting, the slowdown in the increase of the taxation of cars of self-employed workers and the elimination of a fee for the Civil Protection.

Despite more than 900 amendments tabled, very few went ahead and just modified the budget designed by the owner of Finance, Mário Centeno, who shall continue to own their main weapon to control any diversion budget for 2019: the power to freeze any spending, even if approved. Are more than a billion euros, which Rye can play to achieve its goal of a 0.2% annual deficit. This objective does not believe the European Commission, but the socialist Government will support three years of projections, which always has erred Brussels and has been successful Lisbon.

the return to The IMF 4,700 million puts an end to a loan of 26.300 million euros, which, in 2011, were granted at an interest rate of 5.8%. Thanks to the evolution of the international economy and the national, the State has been issuing debt at interest much lower with those who have gone ahead of refunds. The debt issuance this year has had an average interest of 1.9%.

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