Portugal’s Finance Minister Vitor Gaspar has resigned, the president’s office has announced.
The minister has been praised by international creditors for keeping a tight rein on Portuguese finances following the country’s 2011 bailout.
However, the country is still in recession with high unemployment, and recent figures showed the budget deficit widening in the first quarter.
The president’s office said Maria Luis Albuquerque would replace Mr Gaspar.
In a resignation letter seen by the Reuters news agency, Mr Gaspar said the failure to hit public deficit and debt targets had undermined his credibility.
via BBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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