Reuters: US Dollar Report: Troika confirms Portugal given more time to meet budget goals

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Troika confirms Portugal given more time to meet budget goals Sep 11th 2012, 16:46 BRUSSELS, Sept 11 | Tue Sep 11, 2012 12:46pm EDT BRUSSELS, Sept 11 (Reuters) - Portugal has been given longer to meet budget goals set out under the terms of its international rescue programme, the troika representing international lenders confirmed on Tuesday. The troika of inspectors from the European Commission, European Central Bank and the International Monetary Fund said that Portugal's deficit target for 2012 had been revised to 5 percent of gross domestic product and 4.5 percent for 2013. It said the country's economic growth would turn positive only in the second quarter of 2013, and that the economy was expected to shrink by 1 percent that year.

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