9-Mar-2010 11:06 AM

Portuguese Government considering selling a stake in TAP Portugal

Portuguese Government confirmed plans to sell EUR6 billion of assets, including a stake (amount undisclosed) in TAP Portugal, as part of efforts to reduce its budget deficit and debt levels (Bloomberg, 08-Mar-2010). Finance Minister, Fernando Teixeira dos Santos, added that the government will also raise civil servants’ wages less than inflation until 2013, delay part of a high-speed rail project and increase taxes for those earning more than EUR150,000 p/a.