Portugal Revises Its Budget Deficit Up To 9.1%, Now Three Times The EU Limit

Portugal revised its budget deficit to 9.1% from 8.6% in a statement published yesterday.

The National Statistics Institute said it had “determined an increase of the net borrowing and of the gross debt of General Government” compared with the amounts published previously, according to the AP. The eurozone deficit limit is a mere 3%.

Portuguese 10 year bonds are yielding 9.5% — and are steadily catching up to Irish bonds at 10.48%.

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