Budget deficit revised top Portugal 2010

A woman going through empty resort Figueira da Foz 7 April 2011.

Credit: Reuters/Jose Manuel Ribeiro

Lisbon | Sun Apr 24, 2011 6: 48 am EDT

Lisbon – Portugal's budget deficit for 2010 was revised higher by 9.1 per cent of GDP, increased pressure on the interim Government and negotiates terms of bailout likely to reach 80 billion euros.

According to statistics agency INE said in a statement late Monday revised the disability top to insert full three public–private partnerships to State accounts.

Portugal this month became the third euro-zone nation seeks to save, after Greece, Ireland, the country's borrowing costs became too expensive after the Government collapsed.

INE said that changes in the deficit was due to the revisions of general accounts Portugal together with the European statistics agency Eurostat. Been accelerated revisions given the sought to save, according to the INE.

He next asked foreign aid to Portugal, there is the need to speed up the schedule (s) to collect current data for 2010 and will form the starting point for negotiations ".

Officials from the European Commission, IMF and the ECB in Lisbon over public accounts in Portugal. Transitional Government hopes in Portugal loan terms could be completed by mid-May.

Already a budget deficit in 2010 in Portugal by INE to 8.6 per cent of GDP target for 7.3 per cent. This result announced at the end of March, after the revisions began seeking the Statistical Office of the public accounts.

Implies refinement as the ratio of debt to GDP in Portugal in 2010, to 39 percent from the previous estimate of 92.4 percent, INE said.

The high budget deficit last year was likely to make it difficult for Portugal to reach the deficit target this year 4.6 per cent of GDP.

(Reporting by Bugge Axel; editing by David Cowell)

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