Portugal has little room to slow fiscal consolidation, OECD warns

LISBON: Slow-growing Portugal faces mounting economic challenges and its financial system remains fragile, leaving little room for Lisbon to slow down the pace of balancing its budget, the OECD warned Monday.

A minority Socialist government that came to power at the end of 2015 with the backing of the Communists and far-left Left Bloc has set out to reverse some of the austerity measures imposed as part of a 2011-14 international bailout.