The Stability And Growth Programme For 2010-2013

Original Language Title: Programa de Estabilidade e Crescimento para 2010-2013

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Draft resolution No. 91/XI/1st (stability and growth Programme for 2010-2013) since the international financial and economic crisis had a negative impact on public finances of the majority of countries, sometimes through the automatic stabilisers, now by the need to implement measures to support the financing of the economy and businesses, in particular small and medium-sized as well as the unemployed and families; Recognizing that the maintenance of high deficits and the worsening debt burden have negative implications on perception of risk associated with the financing of countries in excessive deficit, which may entail high costs and difficulties in financing your stream, compromising the development of economic activity; Noting that recent experience proves that the consolidation of public accounts is also essential to ensure the sustainability of social policies and social protection systems, as well as to ensure the ability of response and support from the State in crisis situations; Whereas the stability and growth Programme for 2010-2013 adopts a strategy of fiscal consolidation, which is based on a cautious macroeconomic scenario; Taking into account the way in which this strategy assumes the investment initiatives and other public policies aimed at consolidating economic recovery and promotion of employment, as well as the modernisation of the economy and the State, with a view to strengthen the structural conditions of competitiveness and internationalisation of the Portuguese economy; Noting that the form was received as positive frankly the stability and growth Programme for 2010-2013 by most international institutions indicate that the strategy chosen meets conditions to contribute to the strengthening of the international credibility of the country and to the strengthening of confidence in the Portuguese economy;

Thus, the Assembly of the Republic, having enjoyed the stability and growth Programme for 2010-2013, resolves, pursuant to paragraph 5 of article 166 of the Constitution, as follows: 1 – support budgetary consolidation set out in the stability and growth Program (PEC) for 2010-2013, assuming the need of reducing the deficit to 2.8 percent of GDP by 2013 and control the growth of public debt as well as the promotion of the sustained growth of the economy and employment and strengthening the structural conditions of competitiveness and internationalisation of the Portuguese economy. 2 – Recognize the priority given to the reduction of public expenditure, in particular the current expenditure. 3-assume the effort of public investment and public initiative to be carried out should take into account the need to ensure the sustainability of budgetary consolidation and control public and private debt and contribute to the strengthening of the productive potential of the country, your modernisation and your competitiveness with a view to sustained growth. MEMBERS