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Portugal's opposition leader warns against new spending budget

Xinhua, March 2, 2016 Adjust font size:

Portugal's opposition leader and former Prime Minister Passos Coelho said Tuesday that the spending budget passed by parliament will leave Portugal in a vulnerable position.

The center-right politician said on television channel SIC that he is ready to run for his former post again if the current government collapses due to failed economic policy.

However, he insisted he would not "speculate" about the possibility of a "crisis".

Portugal's socialist lawmakers last month approved the state budget for 2016, which reversed unpopular austerity measures enforced by Coelho's government in 2011 in order to obtain 78 billion euros from the European Union and prevent Portugal's bankruptcy.

Despite EU pressure, the new spending plan focuses on restoring workers' pay and increasing pensions, among other measures.

Prime Minister Antonio Costa said the new program will restore hope after years of austerity.

Backed by the Portuguese Communist Party and the radical left, Costa's Socialist Party took power in November after Coelho's coalition lost majority in the 230-seat parliament. Endi