Portugal's ruling centre-left Socialist Party wins general elections with almost 40 percent of the vote, set for four more years in power
Portuguese Prime Minister and Socialist Party leader Antonio Costa celebrates after wining the Portugal election, in Lisbon Sunday night, October 6, 2019.
Antonio Costa, the Socialist leader and incumbent prime minister, said he would start talks with other parties with the aim of securing a political agreement for the next four years. As other Socialist parties have lost ground across Europe in recent years, Costa's administration won respect by proving wrong the doubters who said it would overspend.
The budget deficit — a long torment for Portugal as governments routinely overspent — is now close to zero under the financial stewardship of Finance Minister Mario Centeno, who also chairs the meetings of finance ministers from the 19 European nations that used the shared euro currency.The Social Democrats are still associated in the public mind with deep cutbacks and a three-year recession that ended in 2014 when they were in government.
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