Portugal’s Prime Minister, António Costa, said on Wednesday that a report into the reformulation of financial supervision has been delivered to the finance minister, who would be putting it to parliament on Thursday.
The prime minister was replying to the leader of the CDS-PP, Assunção Cristas, who asked what he thought of banking supervision during the fortnightly debate in parliament.
At the end of January, the finance minister appointed Carlos Tavares to coordinate the work group created by the government to assess the financial supervision model and to propose reforms.
Carlos Tavares was the economy minister of Durão Barroso and a former chairman of the Portuguese Stock Exchange Commission (CMVM).
In related news, António Costa also said on Wednesday that last year’s economic results show that “the good indicators about Portugal have been confirmed”.
At the start of a fortnightly debate in parliament, Costa gave the examples of the two percent year-on-year growth in Gross Domestic Product (GDP) in the last quarter of 2016, the drop in unemployment to 10.2 percent in December 2016, with the creation of 118,000 jobs last year.
Furthermore, there was “a recovery of investment, which grew 4.6 percent in the last quarter” and “the budget deficit will not be more than 2.1 percent, with a primary balance of more than 2 percent of GDP”, he said.