Portugal is looking forward to adding more austerity measures in 2012 to meet its budget shortfall targets and to become eligible for the 78 billion-euro bailout from the European Union and International Monetary Fund, Prime Minister Pedro Passos Coelho said last night.

Passos Coelho said Portugal faces a moment of national emergency as he sees that the current measures are not enough to meet the budget targets of cutting the deficit to 5.9% of GDP in 2011 from 9.8% in 2010, till reaching the EU ceiling of 3% by 2013.

Next year's plans will include deductions in summer and Christmas salaries for public sector workers with salaries above 1,000 euros a month in addition to the increase in value-added tax of some goods, where Passos Coelho did not go into further details of the plan.