Portugal promised euro zone finance ministers it would now prepare additional deficit cutting steps to be ready to implement them, if necessary, to keep the budget in line with EU rules, the head of euro zone ministers said on Thursday.
"The Eurogroup welcomes the commitments of the Portuguese authorities to prepare as of now additional measures to be implemented when needed to ensure that the 2016 budget will be compliant with the Stability and Growth Pact," Jeroen Dijsselbloem told a news conference.
The European Commission said last week that Portugal's 2016 budget was at risk of breaking the country's commitments under EU budget laws and the ministers shared that opinion, Dijsselbloem said.